As Crude Oil has been in focus lately with prices of Brent Crude Oil Futures fluctuating, the world is paying special attention to oil, petroleum, and petroleum products. Companies related to petroleum and petroleum products are currently in focus. Thus, this would be an excellent opportunity to take trades in the stocks of these companies. This requires a basic understanding of the current scenario of crude oil and some background on what the company does so we can take positions based on oil price movements. In this blog, we will be discussing the top petrochemical stocks in India.
The Organization of Petroleum Exporting Countries projected robust increase in crude oil demand for 2023 in their Monthly Oil Market Report. The International Energy Agency also mentioned that they expect crude oil demand to rise next year. These positive demand outlooks bode well for petrochemical stocks and might lead to higher revenues for the companies and better earnings per share for shareholders.
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