Crude oil futures closed lower in the domestic market on Monday after a survey revealed that crude production from members of the Organization of the Petroleum Exporting Countries had climbed to a nearly eight-year high. The report exacerbates concerns that global output is set to climb as recent supply disruptions ease.
At the MCX, Crude oil futures for July 2016 contract closed at Rs. 3,020 per barrel, down by 1.27 per cent, after opening at Rs. 3,039, against the previous closing price of Rs. 3,059. It touched the intra-day low of Rs. 2997.
At the MCX, Crude oil futures for July 2016 contract closed at Rs. 3,020 per barrel, down by 1.27 per cent, after opening at Rs. 3,039, against the previous closing price of Rs. 3,059. It touched the intra-day low of Rs. 2997.
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