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Investors Bet on HPCL, BPCL as OPEC Oil Production Cut Looks Unlikely
Investors bet big on stocks from the oil marketing space with HPCL and BPCL rallying in trade ahead of a key OPEC meeting.
Shares in BPCL was trading up by almost 2.6 per cent at Rs 724 a share, while HPCL rallied a huge 3 per cent and was last trading at Rs 548 and was up 3.5 per cent.
Meanwhile, crude oil fell for a fourth straight day as sentiments once again turned bearish. U.S. crude futures dropped to a four-year low below $76 a barrel.
Crude Oil may fallen even further should there be no production cuts announced by OPEC.
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