Crude prices have been on the rise this year with a 40 percent gain for Brent since June. In an interview with CNBC-TV18, MK Surana, CMD of Hindustan Petroleum Corporation Ltd (HPCL) assessed the impact on their business.
I believe that USD 65 per barrel is a good resistance level for the crude in the near-term, he said.
Crude should be in the range of USD 60-65 per barrel, he added.
If crude prices remain at current levels, we should expect to see good gross refining margins (GRMs), said Surana.For full interview, watch accompanying video...