Crude oil dips on output concerns
14/02/2018
Crude oil dips on output concerns
14/02/2018 07:42
Crude oil futures closed lower in the domestic market on Tuesday after the International Energy Agency forecast strong global crude demand, but raised concerns about a ramp-up in output by non-OPEC producers. The IEA said an inundation of the market from outside of the Organization of the Petroleum Exporting Countries, mostly driven by shale-oil producers in the U.S., might resemble a period back in 2014, when ballooning production capsized crude prices. At the MCX, crude oil futures for February 2018 contract closed at Rs 3817 per barrel, down by 0.65 per cent, after opening at Rs 3833, against a previous close of Rs 3842. It touched the intra-day low of Rs 3753.
14/02/2018
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Crude oil dips on output concerns
14/02/2018 07:42
Crude oil futures closed lower in the domestic market on Tuesday after the International Energy Agency forecast strong global crude demand, but raised concerns about a ramp-up in output by non-OPEC producers. The IEA said an inundation of the market from outside of the Organization of the Petroleum Exporting Countries, mostly driven by shale-oil producers in the U.S., might resemble a period back in 2014, when ballooning production capsized crude prices. At the MCX, crude oil futures for February 2018 contract closed at Rs 3817 per barrel, down by 0.65 per cent, after opening at Rs 3833, against a previous close of Rs 3842. It touched the intra-day low of Rs 3753.
