Synopsis:

Singapore’s refining margins surged 2,000 percent in ten days, signaling stronger profitability ahead for Indian refiners amid tightening global supplies.

The refining sector has witnessed a dramatic week as Singapore’s gross refining margins (GRMs) surged by 2,000 percent within just ten days. Margins climbed sharply from $0.41 to $8.6 per barrel, indicating a potential uplift in earnings for Indian refiners amid improved product spreads and stronger refining profitability.

What is Gross Refining Margin?

The gross refining margin, or GRM, refers to the difference between the value of refined petroleum products produced and the cost of crude oil used as input. It essentially captures the earnings that a refinery generates for every barrel of crude processed into finished fuel

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