High crude prices drive Q1 surge for ONGC and OIL, but output growth diverges

Stronger crude realizations boosted Q1 profits for both state explorers, but while Oil India expanded output, ONGC’s persistent production decline continues to weigh on its outlook.Stronger crude realizations boosted Q1 profits for both state explorers, but while Oil India expanded output, ONGC’s persistent production decline continues to weigh on its outlook. 

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