Reliance Industries in focus as benchmark refining margin slips

Stock falls a day after windfall tax cut; crude refiner's results today

The benchmark of profitability for crude oil refiners has fallen sharply in the past few weeks, bringing oil companies like Reliance Industries (RIL) into sharp focus. The Singapore-Dubai hydrocracking refining margin has fallen 57 per cent in the past month, on the back of demand concerns triggered by recession fears globally. It now hovers over $16.24 per barrel, according to the Bloomberg data compiled by BS Research.

The fall is likely to hurt RIL, among other refiners, as it processes crude oil into refined products, said sector analysts. On Thursday, Brent crude touched $105.8 per barrel, down 3.2 per cent over