Before the meeting in OPEC crude is seeing a steady decline. Ovrsplai
global crude prices have stopped going up. Top of October crude has fallen
below 10 per cent. OPEC is scheduled to meet on November 30 in which the official
decision to cut crude but many experts doubt that OPEC's decision. It looks
crude on the fast break. Free Commodity Tips The fall in crude crude importers such as India will
benefit the most.
1-month high of 10 per cent crude rolled
A month Brent crude
has come down from a height of about 10 per cent. Brent crude touched a high of
53.14 dollars a barrel. Which is now trading at 47.80 levels. Similarly, the
price of WTI crude to a month high of 10.21 per cent, are trading down. October
19 WTI crude had touched a high of 51.60 dollars a barrel. Which remains at
46.33 dollars a barrel.
Why was the decline in crude
Algeria in September in the non-official meeting of OPEC
crude production cut OPEC and non-OPEC countries were expected to agree, after
which the trend was the rise in crude prices. Free MCX Tips Crude though it did not last even
longer and faster decline once again is being witnessed. Oprsplai crude prices
in the global market has been turned on. On Tuesday, the American Petroleum
Institute said US crude reserves of 93 million barrels, which is nine times
higher than the estimates of experts. Then crude is seeing a steady decline.
These companies will benefit
Asian Paints, Berger Paints, kansai Nerolac and Shalimar
Paints, such as paint companies also crude prices will benefit because these
companies the total cost of raw materials in the crude part of 25-30 per cent.
Petroleum products are cheap
Has a direct impact on petroleum product crude cheaper. Crude product
formed by petrol, diesel, LPG will impact. In addition to lowering the price of
crude to be these other paint products, synthetic rubber and PVC prices can be
reduced. Commodity Tips The price of crude is $ 1 or less to the country's advantage or
disadvantage of nearly Rs 6,700 crore. India needed 70 per cent of its oil is
imported.
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