Crude oil futures little changed on talks of supply freeze 19/08/2016 15:29

Crude oil futures little changed on talks of supply freeze
19/08/2016 15:29

Crude oil futures were trading little changed during the evening trade in the domestic market on Friday as participants booked fresh positions in the energy commodity as reports emerged that the world’s leading oil producers are open to discussing an output freeze, easing worries over a global supply glut.
OPEC, a cartel which accounts for about 40 per cent of global crude supplies and other leading producers including Russia could revive production freezing talks when they meet in Algeria in September.
At the MCX, crude oil futures for August 2016 contract is trading at Rs 3,225 per barrel, up by 0.09 per cent, after opening at Rs 3,231, against a previous close of Rs 3,222. It touched the intra-day low of Rs 3,206 (at 15:22 hours).