Crude oil dips on climb in July OPEC crude production 14/08/2017

Crude oil dips on climb in July OPEC crude production
14/08/2017

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Crude oil futures closed lower in the domestic market on Friday after reports of a climb in July OPEC crude production, and as tensions tied to North Korea keep investors on edge.Aside from supply and demand, investors also closely followed developments in the U.S.-North Korea standoff. At the moment, the verbal jousting between the two nations hasn’t translated into any concrete actions, but the situation has intensified by the day.At the MCX, crude oil futures for August 2017 contract closed at Rs 3125 per barrel, down by 0.10 per cent, after opening at Rs 3111, against a previous close of Rs 3128. It touched the intra-day low of Rs 3082.


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