Oil stocks get a lift from cut in windfall taxes, RIL gains 2.5% | Economic Times

Oil stocks get a lift from cut in windfall taxes, RIL gains 2.5% https://ift.tt/ND9VLW0 government on July 1 imposed an export tax on petrol, diesel and aviation turbine fuel (ATF) as well as a windfall tax on crude oil produced locally, sending stock prices of oil refiners and producers crashing. The moves dented market expectations of further record profits, which have been driven by elevated oil prices and a global energy deficit.