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08.12 - 16:19
Oil prices extend gains as OPEC cuts expected; Brent crude at $81.92/bbl
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₹8,260 per bbl, having swung from ₹8,018 per bbl, in the morning against a previous close of ₹6,252 per bbl on Friday. The drop in oil prices last week was primarily sparked by a significant increase in US crude inventories and production remaining at historic highs.
Additionally, apprehensions arose due to indications of weakening demand in China. An additional element fueling pessimism was the rise in the number of Americans submitting new claims for unemployment benefits, coupled with a minor downturn in industrial production statistics.Milestone Alert!
Livemint tops charts as the fastest growing news website in the world
About this in other media
Oil prices fall on China concerns, scepticism on OPEC+ cuts economictimes.indiatimes.com /5 months ago
Rupee rises 11 paise to 83.29 against US dollar in early trade on strong GDP data, easing oil prices livemint.com /5 months ago
Oil prices slip further as OPEC cuts, China data underwhelm investing.com /5 months ago
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