Oil marketing companies (OMCs) are projected to see strong earnings growth in the December quarter, driven by robust refining margins and improved fuel price spreads. Easing LPG under-recoveries, aided by lower propane prices and compensation for past losses, will further boost performance. Conversely, upstream producers like ONGC and Oil India are expected to report weaker earnings due to lower crude oil prices and global oversupply. City gas distributors anticipate healthy volumes and improving margins.