Crude oil futures closed lower in the domestic market on Friday as traders weighed pressure from rising U.S. crude production and supplies against support from sizable production cuts among members of the Organization of the Petroleum Exporting Countries.
At the MCX, crude oil futures for February 2016 contract closed at Rs 3569 per barrel, down by 0.53 per cent, after opening at Rs 3586, against a previous close of Rs 3588. It touched the intra-day low of Rs 3546.
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