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videos | IST

Oil prices rise 60% in 2021, what's the outlook for 2022? Experts decode

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Crude oil prices have gained nearly 60 percent in 2021 and liquefied natural gas (LNG) prices have also touched a new all-time high. Dayanand Mittal, Oil and Gas Analyst at JM Financial Institutional Securities said petrol prices should normalise after March-April.

Crude oil prices have gained nearly 60 percent in 2021 and liquefied natural gas (LNG) prices have also touched a new all-time high. Dayanand Mittal, Oil and Gas Analyst at JM Financial Institutional Securities said petrol prices should normalise after March-April. He said crude oil prices in the near-term should stay supportive but from a medium- to long-term prices should moderate. He likes Indraprastha Gas Ltd (IGL), Gujarat Gas, Mahanagar Gas Ltd (MGL).
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Hetal Gandhi, Director at CRISIL believes petrol would continue in the same trajectory it saw in FY22. Diesel and oil, on the other hand, will see a faster growth that will drive the growth of petroleum products by 6-8 percent, he said.
For the entire discussion, watch the accompanying video.