Stocks that gain due to Crude oil price

What stocks would gain due to Crude oil price? I fail to see any Indian oil companies stock rising, except for HPCL.\


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I do not think Oil Marketing Companies make any increased profit because of increasing crude oil prices. The price difference is pocketed by the government in my understanding.

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But the price of fuel does increase to a certain extent. So doesn’t it imply that the government absorbs some of the increase, but not all.

Everyone from Govt to OMC like HPCL are Buyers so purchase cost will go higher and all Economies in the world are very sensitive to Crude prices.
Those that produce like OPEC+ suffer with $30 price and the rest of the consumers scream at $130.

Coming to stock specifics, see ONGC chart and the likes ( called as Upstream Companies ), it is into oil production and will naturally benefit from higher oil and gas prices. ONGC being Govt entity will also have to sacrifice in terms of pricing though but technically they are gainers.

Thanks for the answer that I was looking for. HPCL and IOC too seem to be trending upwards.

Same time if world panic reduces OR crude price falls, the same stocks will equally fall too.