Singapore GRMs Jump 48% For Last Two Sessions | Business News | Share Market | ET Now

Singapore GRMs have jumped nearly 48% for the last two consecutive trading sessions, thereby benefitting Indian oil refiners. The rise in margins could be owing to the lower-than-expected production and recent cuts announced by OPEC+.
GRM is the margin that an oil refiner earns from processing every barrel of crude.
The rise in GRMs positively benefits the oil refiners like MRPL, Chennai Petroleum, RIL, IOCL, BPCL, and HPCL. However, these gains could be capped if the Government of India chooses to increase the windfall tax which is due for revision on September 16.
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