Symbol: CRUDEOIL| Contract: Feb, 2019| Category: Energy
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The international benchmark for oil prices is at a near three-month high and set for a 4.5 per cent gain for the week. OPEC and some non-affiliated suppliers including Russia are withholding supply in order to tighten the market and prop up prices.
The Organization of the Petroleum Exporting Countries said on Tuesday that it had cut its output by almost 800,000 bpd in January to 30.81 million bpd
Benchmark Brent oil fell 16 cents or 0.26 per cent to $61.94 a barrel at 12:20 GMT.
The rupee strengthened by 13 paise - or 0.2 per cent - to 71.32 against the dollar in early trade on Friday, a day after the Reserve Bank of India (RBI) surprisingly cut the key interest rate. The policy action by the RBI amid easing of crude oil rates supported the rupee, say analysts. On Thursday, the rupee moved 11 paise higher to settle at 71.4...
The rupee edged higher against the dollar in morning trade on Wednesday. The rupee appreciated by eight paise against the greenback to hit 71.49, compared with its previous close of 71.57. Strength in the domestic equity markets, with the Nifty crossing the 11,000 mark for the first time in more than four months, boosted the rupee. However, rising ...
Crude oil, refinery products and fertiliser production recorded negative growth of 4.3%, 4.8% and 2.4%, respectively in December 2018.
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