Indian Oil Share Price Jumps as Oil Prices Fall; OMC Stocks Extend Winning Streak

When global oil prices start slipping, the energy space often reacts instantly—and that’s exactly what the market witnessed today.

Indian Oil share price, along with HPCL share price and BPCL share price, saw sharp upward movement as crude continued its downward slide for the third straight session.

The mood across OMC stocks on the NSE and BSE was upbeat, with traders responding to the fresh decline in Brent and WTI. The softening of oil prices has come at a time when the market was closely watching supply signals from the OPEC+ group.

Market Performance: OMC Stocks Rise as Crude Extends Its Fall

By the time markets settled, OMC stocks on NSE and BSE had rallied up to 6%.

The trigger was simple but powerful: oil prices fell for the third day in a row.

Brent crude dropped to $64.33 per barrel, while WTI crude slipped to $60.08 per barrel.

This steady decline added fresh momentum to Indian Oil NSE, HPCL NSE, and BPCL NSE counters.

Just last week, Brent and WTI had posted their biggest gains since June after fresh sanctions were imposed on large Russian oil companies. But those gains quickly turned uncertain as the market began to price in the possibility of oversupply.

Main News: OPEC+ Hints at Output Increase

The pressure on oil prices intensified further after reports suggested that OPEC+ may raise output levels in December.

As per information shared by sources familiar with the discussions:

• The group is likely to consider a modest output boost for December.
• Several members are expected to support an increase of 137,000 barrels per day.
• Since this coalition contributes nearly half of the world’s total oil production, even a small move tends to shift global pricing.

This fresh supply chatter added weight to the ongoing decline in crude, giving OMCs an additional push in today’s trade.

Company Highlights: Indian Oil, HPCL, BPCL Show Strong Intraday Reaction

The decline in crude prices generally improves sentiment around Indian Oil, HPCL, and BPCL, as lower input costs help strengthen their operational environment.

Today’s session reflected that sentiment clearly:

• Indian Oil share price gained momentum across Indian Oil NSE and Indian Oil BSE.
• HPCL share price also moved sharply on both HPCL NSE and HPCL BSE.
• BPCL share price followed with strong upside moves on BPCL NSE and BPCL BSE.

With crude slipping for three days, the market viewed this as a short-term breather from elevated global energy prices.

Why Oil Prices Matter for OMC Stocks

Lower crude prices often ease cost pressures for oil marketing companies.

And with Brent and WTI pulling back significantly, OMC counters reacted instantly.

Here’s the quick breakdown of the crude movement:

• Brent Crude: $64.33 per barrel
• WTI Crude: $60.08 per barrel
• OPEC+ Expected Output Increase: 137,000 barrels per day (proposed for December)

This shift in the global supply narrative strengthened the positive sentiment around OMCs in today’s trading session.

Summary

The fall in global oil prices set the tone for a strong rally in Indian Oil share price, HPCL share price, and BPCL share price.

OMC stocks across the NSE and BSE reacted positively as Brent and WTI continued their three-day decline.

With OPEC+ discussing a potential December output increase, the market recalibrated its expectations on global supply, keeping crude under pressure and supporting OMC counters.

For now, the spotlight stays firmly on oil prices, OPEC+ decisions, and how the next few sessions unfold for India’s largest oil marketing companies.