ONGC And Oil India Shares Gain as Crude Prices Hit 12-Week High

ONGC and Oil India shares advanced on Wednesday, January 14, following a rally in global crude oil prices. ONGC shares were trading nearly 2% higher, while Oil India shares gained close to 4% during the session.

Both stocks extended their three-day winning streak, supported by strong trading volumes. The surge coincides with Brent Crude reaching its highest level in 12 weeks, driven by geopolitical tensions.

Crude Oil Prices At 12-Week High

Global oil benchmarks continued their upward trend, with Brent Crude trading near $66 per barrel. The price rally is attributed to concerns over protests in Iran and potential US intervention, which have raised supply uncertainty.

This marks a sharp reversal from last month, when prices fell to multi-year lows amid expectations of easing Russia-Ukraine tensions. The sustained increase in crude prices has provided a positive backdrop for upstream oil companies.

Stock Performance and Recent Gains

ONGC shares climbed 2.90% to ₹250.90 as of 12:19 pm on January 14, while Oil India shares rose 3.2% to ₹461.50. Over the past three sessions, Oil India gained 9.3%, and ONGC advanced 5.2%, reflecting strong momentum.

Despite the recent rally, ONGC shares have declined 6.5% over the last 12 months, and Oil India shares are down 3.5% during the same period. The latest gains come amid heightened investor interest in energy stocks following the crude price surge.

Volume Surge and Delivery Data

Trading volumes for both stocks spiked significantly on Tuesday. ONGC recorded 2.25 crore shares traded, compared to its 20-day average of 83.4 lakh shares, with 1.16 crore shares marked for delivery.

Oil India saw over 1.2 crore shares traded, far exceeding its 20-day average of 16.2 lakh shares, and 60.5 lakh shares were marked for delivery. The sharp rise in delivery volumes indicates strong investor participation and confidence in the sector.

Revenue Impact of Price Increase

Industry estimates suggest that every $1 per barrel rise in crude oil prices could boost revenues of ONGC and Oil India by ₹300 crore to ₹400 crore. This correlation underscores the sensitivity of upstream companies to global price movements.

The recent rally in crude prices is therefore expected to have a favourable impact on revenue streams for these firms. However, the actual financial effect will depend on sustained price levels and production volumes.

Read More: Oil Markets Pause Rally on Jan 14, 2026.

Conclusion

ONGC and Oil India shares extended their winning streak on January 14, supported by a sharp rise in global crude prices. Brent Crude’s climb to a 12-week high has renewed investor interest in upstream oil companies.

Strong trading volumes and delivery data further highlight the positive sentiment in the market. While recent gains are notable, long-term performance remains influenced by global price trends and geopolitical developments.

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