OPEC supply restraint, hardening oil prices see oil companies’ shares flying

Shares of oil companies were flying on the bourses on Tuesday, following further strengthening of global crude oil prices on Monday with oil cartel OPEC+ deciding to continue with their gradual approach to raise production. At around 11.20 a.m., shares of the Oil and Natural Gas Corporation (ONGC) jumped 7.22 per cent to Rs 158.25 on the BSE while that of Oil India Ltd (OIL) gained 1.92 per cent to reach Rs 246.30.…

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