Best case margins is $5-6/bbl if crude is not volatile: HPCL

Speaking to CNBC-TV18 MK Surana, CMD of HPCL said that as long as cracks are maintained, refinery margins would be on track. The term "crack" is derived from the fluid catalytic cracking of crude oil, which is used to refine crude oil into petroleum products. The OPEC meeting which agreed to a supply cut won’t affect the refining margins, he said.

The margin forecast for the second half of this fiscal year will be around USD 5, he said.

He maintained that revenues are a function of volumes and pricing and if crude prices are up, so would their prices.

The demonetisation hasn't hit their P&L, he said.For entire interview, watch accompanying video.