Crude oil rises as OPEC output pact extension likely
10/10/2017
Crude oil futures closed higher in the domestic market on Monday finding some support after OPEC’s secretary-general said the cartel and other oil producers might need to take additional measures in 2018 to rebalance the oil market. Otherwise, traders were largely in wait-and-see mode ahead of the release of oil market data from OPEC on Wednesday and the International Energy Agency on Thursday. At the MCX, crude oil futures for October 2017 contract closed at Rs 3259 per barrel, up by 0.59 per cent, after opening at Rs 3240, against a previous close of Rs 3240. It touched the intra-day high of Rs 3260.
10/10/2017
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Crude oil futures closed higher in the domestic market on Monday finding some support after OPEC’s secretary-general said the cartel and other oil producers might need to take additional measures in 2018 to rebalance the oil market. Otherwise, traders were largely in wait-and-see mode ahead of the release of oil market data from OPEC on Wednesday and the International Energy Agency on Thursday. At the MCX, crude oil futures for October 2017 contract closed at Rs 3259 per barrel, up by 0.59 per cent, after opening at Rs 3240, against a previous close of Rs 3240. It touched the intra-day high of Rs 3260.
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