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Informist, Friday, Aug. 14, 2026

 

MUMBAI – Shares of oil and gas companies are expected to move sideways next week. Higher crude oil prices due to the war in West Asia are likely to remain a headwind for oil marketing companies, an analyst said. Friday, Nifty Oil & Gas ended 0.5% lower at 11200.05 points.

 

The support for the Nifty Oil & Gas is seen at 10700 points while the resistance is pegged at 11400, according to Sundar Kewat, technical and derivatives analyst at Ashika Institutional Research. If the index falls below the support level, further selling pressure is likely to follow, Kewat said.

 

Aegis Logistics, Bharat Petroleum Corp., Petronet LNG, and Mahanagar Gas ended over 1% higher Friday. Oil India was the worst hit in the 15-stock index, down over 2%. Chennai Petroleum Corp. and Oil and Natural Gas both ended over 1% lower.

 

"Rising oil prices would worsen the already loss-making oil marketing companies and they are expected to remain under pressure if oil prices remain strong," Swarnendhu Bhushan, head of research at PL Capital, said. Bhushan said the financials of upstream companies are likely to be better, however, in the absence of any structural volume growth, they are likely to have a significant underperformance.

 

Monday, Oil India said it had raised its crude oil output target to at least 1 million tonnes per quarter from 950,000 tonnes per quarter produced currently. In a post-earnings conference call, the oil explorer's top officials estimated the company's output to reach 3.9–4 million tonnes in the financial year 2026-27 (Apr-Mar) and 4.2 million tonnes in FY29.

 

TOP HEADLINES

* US natural gas stocks up 36 bcf in week ended Aug 7, says EIA
* Analyst Concall:Petronet LNG Dahej terminal Q1 usage at 66% of higher output
* BPCL board to meet Tuesday, mull raising funds via NCDs
* Earnings Review: Indraprastha Gas Q1 PAT down 48% YoY, misses estimate
* Indian refiners seek local oil price discovery, wider hedging framework
* Earnings Review: Petronet LNG Q1 PAT up on year despite sharp fall in sales
* OPEC cuts global oil demand growth view further to 0.6 mln bpd in 2026
* IEA sees global oil demand fall by 1.6 mln bpd 2026, high prices weigh on use
* Brent crude oil prices to average $85/bbl in Jul-Sept, $69/bbl in 2027 - EIA
* Govt rules out ethanol blending in diesel, not mixing isobutanol currently
* Analyst concall: Oil India aims at oil output of 1 mln tn per quarter
* Earnings Review: Oil India Q1 PAT tripled on higher crude oil realisations
* Oil cos test E20 fuel for contamination, say no cause for worry amid furore
 

Following are the resistance and support levels for key oil stocks for next week as per calculations based on their prices on the National Stock Exchange:

Company	Price	Week-on-week  change in %	Resistance	Support
Bharat Petroleum Corp	319.45	(-)0.50	323.10	312.30
Hindustan Petroleum Corp	373.50	(-)5.00	377.10	369.20
Indian Oil Corp	139.40	(-)2.80	141.70	137.70
Oil & Natural Gas Corp	236.40	(-)1.00	241.40	232.70
Oil India	468.50	5.80	483.00	458.60
Reliance Industries	1,310.00	(-)1.90	1,325.70	1,293.70
Index	Levels
NIFTY OIL & GAS	11200.05	(-)1.00	11280.90	11121.60
Nifty 50	24366.00	(-)0.80	24464.40	24247.60
S&P BSE Sensex	78009.25	(-)0.60	78278.70	77549.60

 

End

 

US$1 = INR 95.42

 

Reported by Adhithya Aji

Edited by Shubhayan Bhattacharya

 

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