In OPEC supply deal Crude oil rises on hopes

On Wednesday, market participants constant to weigh prospects of a coordinated production cut among major global oil producers. Because Crude oil futures closed higher in the domestic market.

Several Organizations of the Petroleum Exporting Countries members were engage in a last-minute push to beat divisions between the cartel’s biggest producers.

At the MCX, crude oil futures for Nov 2016 contract stopped at Rs 3123 / barrel, up by 1.30 per cent, after open at Rs 3084, against a previous closed of Rs 3083. It touched the intra-day high of Rs 3155.




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