Crude oil up on fall in OPEC member crude output
14/11/2017 07:39
Crude oil up on fall in OPEC member crude output
14/11/2017 07:39
Crude oil futures closed higher in the domestic market on Monday after OPEC reported a fall in October member output, but a U.S. government report showed expectations for a monthly rise in domestic shale-oil production. Ahead of a key meeting of oil producers on Nov. 30, the Organization of the Petroleum Exporting Countries said crude production from its members dropped by nearly 0.5% to 32.59 million barrels a day in October from a month earlier. OPEC also raised its forecast for oil demand this year and in 2018. At the MCX, crude oil futures for November 2017 contract closed at Rs 3717 per barrel, up by 0.13 per cent, after opening at Rs 3707, against a previous close of Rs 3712. It touched the intra-day high of Rs 3742.
14/11/2017 07:39
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Crude oil up on fall in OPEC member crude output
14/11/2017 07:39
Crude oil futures closed higher in the domestic market on Monday after OPEC reported a fall in October member output, but a U.S. government report showed expectations for a monthly rise in domestic shale-oil production. Ahead of a key meeting of oil producers on Nov. 30, the Organization of the Petroleum Exporting Countries said crude production from its members dropped by nearly 0.5% to 32.59 million barrels a day in October from a month earlier. OPEC also raised its forecast for oil demand this year and in 2018. At the MCX, crude oil futures for November 2017 contract closed at Rs 3717 per barrel, up by 0.13 per cent, after opening at Rs 3707, against a previous close of Rs 3712. It touched the intra-day high of Rs 3742.
