Crude oil dips on rising crude production
19/12/2017
19/12/2017 07:43
Crude oil futures closed lower in the domestic market on Monday as the U.S. Energy Information Administration forecast crude production from seven major shale regions is expected to grow by 94,000 barrels a day in January.
The dynamics of the oil market are divergent right now as the technical trend remains bullish while fundamentals are less encouraging, mostly thanks to the relentless rise in U.S. oil production
At the MCX, crude oil futures for December 2017 contract closed at Rs 3650 per barrel, down by 0.52 per cent, after opening at Rs 3681, against a previous close of Rs 3669. It touched the intra-day low of Rs 3642.
19/12/2017
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Crude oil dips on rising crude production19/12/2017 07:43
Crude oil futures closed lower in the domestic market on Monday as the U.S. Energy Information Administration forecast crude production from seven major shale regions is expected to grow by 94,000 barrels a day in January.
The dynamics of the oil market are divergent right now as the technical trend remains bullish while fundamentals are less encouraging, mostly thanks to the relentless rise in U.S. oil production
At the MCX, crude oil futures for December 2017 contract closed at Rs 3650 per barrel, down by 0.52 per cent, after opening at Rs 3681, against a previous close of Rs 3669. It touched the intra-day low of Rs 3642.
