Crude oil prices drop as OPEC production increases
17/04/2015 12:31
Crude oil prices fell by 1.29 per cent on Friday at the domestic markets after OPEC said that its output surged in March, adding to a global glut.
The Organization of the Petroleum Exporting Countries (OPEC) said that its March production jumped 810,000 barrels per day (bpd), to 30.79 bpd which is equivalent to a third of global supply.
At the MCX, crude oil futures for June 2015 contract were trading at Rs. 3,513 per barrel, down by 1.29 per cent, after opening at Rs. 3,536 against the previous closing price of Rs. 3,559. It touched the intra-day low of Rs. 3,500 till the trading. (At 11.59 AM today).
17/04/2015 12:31
Crude oil prices fell by 1.29 per cent on Friday at the domestic markets after OPEC said that its output surged in March, adding to a global glut.
The Organization of the Petroleum Exporting Countries (OPEC) said that its March production jumped 810,000 barrels per day (bpd), to 30.79 bpd which is equivalent to a third of global supply.
At the MCX, crude oil futures for June 2015 contract were trading at Rs. 3,513 per barrel, down by 1.29 per cent, after opening at Rs. 3,536 against the previous closing price of Rs. 3,559. It touched the intra-day low of Rs. 3,500 till the trading. (At 11.59 AM today).
