Crude oil rises on OPEC agreement
06/12/2017
Crude oil rises on OPEC agreement
06/12/2017 07:39
Crude oil futures closed higher in the domestic market on Tuesday as OPEC’s agreement to extend production cuts through next year provided support, but also raised expectations for growth in U.S. shale output. The Organization of the Petroleum Exporting Countries and its oil-producing allies reached a unanimous decision to extend their oil output-cut deal to the end of December 2018. U.S. supply data will swing back into focus on Wednesday with the release of data from the Energy Information Administration. At the MCX, crude oil futures for December 2017 contract closed at Rs 3721 per barrel, up by 0.19 per cent, after opening at Rs 3712, against a previous close of Rs 3714. It touched the intra-day high of Rs 3733.
06/12/2017
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Crude oil rises on OPEC agreement
06/12/2017 07:39
Crude oil futures closed higher in the domestic market on Tuesday as OPEC’s agreement to extend production cuts through next year provided support, but also raised expectations for growth in U.S. shale output. The Organization of the Petroleum Exporting Countries and its oil-producing allies reached a unanimous decision to extend their oil output-cut deal to the end of December 2018. U.S. supply data will swing back into focus on Wednesday with the release of data from the Energy Information Administration. At the MCX, crude oil futures for December 2017 contract closed at Rs 3721 per barrel, up by 0.19 per cent, after opening at Rs 3712, against a previous close of Rs 3714. It touched the intra-day high of Rs 3733.
