Crude oil dips as traders await US crude supplies data
22/08/2017
Crude oil futures closed lower in the domestic market on Monday as traders awaited data on U.S. supplies and production due later this week.No major news emerged from producers who were scheduled to meet Monday to discuss compliance with the OPEC output-cut agreement, which reportedly weakened in July.The Organization of the Petroleum Exporting Countries was scheduled to hold a technical meeting with non-cartel members in Vienna Monday to discuss compliance levels with the cartel’s production cut deal.At the MCX, crude oil futures for August 2017 contract closed at Rs 3018 per barrel, down by 2.77 per cent, after opening at Rs 3104, against a previous close of Rs 3104. It touched the intra-day low of Rs 3013.
22/08/2017
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Crude oil futures closed lower in the domestic market on Monday as traders awaited data on U.S. supplies and production due later this week.No major news emerged from producers who were scheduled to meet Monday to discuss compliance with the OPEC output-cut agreement, which reportedly weakened in July.The Organization of the Petroleum Exporting Countries was scheduled to hold a technical meeting with non-cartel members in Vienna Monday to discuss compliance levels with the cartel’s production cut deal.At the MCX, crude oil futures for August 2017 contract closed at Rs 3018 per barrel, down by 2.77 per cent, after opening at Rs 3104, against a previous close of Rs 3104. It touched the intra-day low of Rs 3013.
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