---
title: "Reliance sees oil shock impact in Q4 earnings, analyst expects recovery ahead"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/284165885.md"
description: "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."
datetime: "2026-04-27T07:03:18.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/284165885.md)
  - [en](https://longbridge.com/en/news/284165885.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/284165885.md)
---

# Reliance sees oil shock impact in Q4 earnings, analyst expects recovery ahead

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.

### Related Stocks

- [RELI.US](https://longbridge.com/en/quote/RELI.US.md)
- [RS.US](https://longbridge.com/en/quote/RS.US.md)

## Related News & Research

- [World down to weeks of oil reserves as Strait of Hormuz crisis drives supplies to the brink](https://longbridge.com/en/news/287256728.md)
- [UAE Says Hormuz Bypass Oil Pipeline Nearly 50% Complete, Targets Faster 2027 Launch: 'Not Just An Economic Problem'](https://longbridge.com/en/news/287188264.md)
- [Oil little changed as traders await breakthrough in US.-Iran negotiations](https://longbridge.com/en/news/286925961.md)
- [Canada's investment climate for oil and gas improving, executives say](https://longbridge.com/en/news/287259208.md)
- [Indonesia signs eight oil and gas contracts with estimated 13.8 trillion cubic feet of resources](https://longbridge.com/en/news/287033729.md)