Crude oil flat on no decision on OPEC pact extension
25/09/2017
Crude oil futures closed flat in the domestic market on Friday as major oil producers at an OPEC-led committee meeting reached no decision to extend the agreement. On Friday, the Joint OPEC-Non-OPEC Ministerial Monitoring Committee, or JMMC, which includes Organization of the Petroleum Exporting Countries members Algeria, Kuwait and Venezuela as well as non-OPEC Russia, announced in a news release that the countries participating in a production-cut agreement reached record monthly compliance with the pact. At the MCX, crude oil futures for October 2017 contract closed at Rs 3290 per barrel, down by 0.15 per cent, after opening at Rs 3298, against a previous close of Rs 3295. It touched the intra-day low of Rs 3273.
25/09/2017
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Crude oil futures closed flat in the domestic market on Friday as major oil producers at an OPEC-led committee meeting reached no decision to extend the agreement. On Friday, the Joint OPEC-Non-OPEC Ministerial Monitoring Committee, or JMMC, which includes Organization of the Petroleum Exporting Countries members Algeria, Kuwait and Venezuela as well as non-OPEC Russia, announced in a news release that the countries participating in a production-cut agreement reached record monthly compliance with the pact. At the MCX, crude oil futures for October 2017 contract closed at Rs 3290 per barrel, down by 0.15 per cent, after opening at Rs 3298, against a previous close of Rs 3295. It touched the intra-day low of Rs 3273.
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