The benchmark of profitability for crude oil refiners has fallen sharply in the past few weeks, bringing oil companies like Reliance Industries (RIL) into sharp focus. The Singapore-Dubai hydrocracking refining margin has fallen 57 per cent in the past month, on the back of demand concerns triggered by recession fears globally. It now hovers over $16.24 per barrel, according to the Bloomberg data compiled by BS Research.
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First Published: Thu, July 21 2022. 23:04 IST