Oil India Shares Continued Gaining Streak For 4th Consecutive Trading Session

Oil India shares surged for the 4th consecutive trading session on January 3, 2025. Opening at ₹468.00, the stock reached a high of ₹491.15 by 11:02 AM, reflecting a 5.05% gain from the previous close of ₹463.55. Over the last four trading sessions, Oil India shares have risen by approximately 15%. However, the stock price has corrected by over 25% from its record highs in August 2024.

Why Are Oil India Shares Gaining?

The surge in Oil India shares is partly driven by rising Brent crude oil prices, which recently hit their highest level in over two months. This increase in oil prices is fueled by optimism surrounding China’s economic recovery, with President Xi’s New Year speech indicating that the country would implement more proactive policies to boost growth in 2025.

Oil prices continued to rise on Friday after closing at their highest levels in more than two months in the previous session. This gain is based on expectations that governments worldwide may ramp up policy support to stimulate economic growth, which could drive fuel demand.

Brent crude futures were trading above $76 per barrel, while WTI crude was priced around $73.4 per barrel, showing increases of 0.3% and 0.36%, respectively.

Oil India Q2FY25 Performance

In Q2 FY25, Oil India recorded a 4.79% increase in crude oil production, reaching 0.875 million metric tons (MMT). For the first half of FY25, crude oil production grew by 5.5%, totalling 1.746 MMT. Additionally, natural gas production rose by 3.99%, reaching 1,617 million standard cubic meters (MMSCM) during the same period. The company posted a Profit After Tax (PAT) of ₹1,834.07 crore for Q2 FY25, bringing the total PAT for the half-year ending September 30, 2024, to ₹3,300.91 crore.

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