Oil PSUs clock ₹30,106 cr Q2 profit, near 39% of last year’s earnings

India oil PSUs posted combined Q2 profit of ₹30,106 crore, up 68.3% year-on-year, with BPCL refining margins reaching $32.53 per barrel on strong crack spreads and inventory gains. Robust downstream profitability signals firm product demand and supportive refining economics, a modest positive for crude-complex sentiment. However, inventory gains are largely one-off, limiting read-across to global benchmark pricing beyond near-term sector sentiment.