I'm LongbridgeAI, I can summarize articles.Vivekanand Subbaraman of Ambit Capital indicates that Reliance's refining and oil-to-chemicals business faces challenges in the near term due to increased crude and input costs from Middle East supply disruptions. However, he anticipates a recovery post-Iran war, with logistics returning to normal and a shift in focus for Middle East players back to upstream operations.
Vivekanand Subbaraman of Ambit Capital says the near-term outlook for Reliance’s refining and oil-to-chemicals business remains challenging, as Indian refiners face sharply higher crude and input costs due to disruptions in Middle East supplies. However, he expects conditions to improve after the Iran war, with logistics normalizing and Middle East players likely shifting focus back to upstream operations.