CRUDE OIL
Crude oil prices slided by 0.65 percent on Friday at the domestic markets with key producers staging no signs of cutting output in the face of a global supply surfeit. Saudi Arabia and its Gulf OPEC allies are staging no sign of considering cutting output to improve oil prices even as desire slows globally. Meanwhile, annual consumer boom in China remained near the shortest in five years, signaling persistent weakness in the world's biggest energy consumer. At the MCX, crude oil futures for January 2015 contract were trading at Rs. 3,075 per barrel, up by 0.65 percent after opening at Rs. 3,075 against the last day of ending price of Rs. 3,055. It touched the intra day max of Rs. 3,093 till the trading. (At 12.15 PM).
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