Crude oil rises on Libyan output disruption
29/03/2017 08:15
Crude oil futures closed higher in the domestic market on Tuesday buoyed by disruptions to Libyan crude production and talk of a six-month extension to an OPEC-led pact to limit global output.
Skeptics of the Organization of the Petroleum Exporting Countries’ deal to curb output have argued that the production cuts would be at least partially offset by Libya, which doesn’t have an output quota under the deal.
At the MCX, crude oil futures for April 2016 contract closed at Rs 3171 per barrel, up by 1.90 per cent, after opening at Rs 3128, against a previous close of Rs 3112. It touched the intra-day high of Rs 3179.
29/03/2017 08:15
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Crude oil futures closed higher in the domestic market on Tuesday buoyed by disruptions to Libyan crude production and talk of a six-month extension to an OPEC-led pact to limit global output.
Skeptics of the Organization of the Petroleum Exporting Countries’ deal to curb output have argued that the production cuts would be at least partially offset by Libya, which doesn’t have an output quota under the deal.
At the MCX, crude oil futures for April 2016 contract closed at Rs 3171 per barrel, up by 1.90 per cent, after opening at Rs 3128, against a previous close of Rs 3112. It touched the intra-day high of Rs 3179.
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040
