Follow the costs, capacity and cash flows behind the real economy.
The gap everyone quotes is a futures price. Physical Brent stood $29.20 above American crude on 6 October, by Washington’s own table, and India buys physical oil. On Friday the United States licensed Russian diesel, whose shortage has paid India’s export refiners. At the Indian pump almost nothing has moved since June.
Hindustan Petroleum lost 12 paise on every rupee of sales. ONGC's own profit more than doubled while its group profit, which includes Hindustan Petroleum, fell 59%. The government's fuel-export levies run to 15 October.
An emergency generation order gives industrial companies a second customer for electricity. Fuel, internal demand and dispatch constraints determine whether that customer is profitable.
Higher support can shield farmers from input inflation. For manufacturers and importers, the production route and the timing of reimbursement remain decisive.
Lower export levies improve one component of the netback. They do not settle the competing economics of refining, exports and domestic sales.
Reporting for teams that need to understand what a policy, market change or company disclosure means for the businesses they follow.
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