Crude oil dips as chances of output deal decline
26/09/2016 08:58
Crude oil futures closed lower in the domestic market on Friday as traders weighed the latest talk from major oil producers ahead of their meeting next week that's expected to focus on production levels. The meeting planned for the last day of the International Energy Forum, which will be held in Algeria Monday through Wednesday, will only offer a chance for the Organization of the Petroleum Exporting Countries and other oil producers to consult with each other about production levels. At the MCX, crude oil futures for October 2016 contract closed at Rs 2978 per barrel, down by 3.97 per cent, after opening at Rs 3090, against a previous close of Rs 3101. It touched the intra-day low of Rs 2967.
26/09/2016 08:58
Crude oil futures closed lower in the domestic market on Friday as traders weighed the latest talk from major oil producers ahead of their meeting next week that's expected to focus on production levels. The meeting planned for the last day of the International Energy Forum, which will be held in Algeria Monday through Wednesday, will only offer a chance for the Organization of the Petroleum Exporting Countries and other oil producers to consult with each other about production levels. At the MCX, crude oil futures for October 2016 contract closed at Rs 2978 per barrel, down by 3.97 per cent, after opening at Rs 3090, against a previous close of Rs 3101. It touched the intra-day low of Rs 2967.
