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Oil falls back from $50, but Indian basket regains this level

Discussion in 'Indian Stocks' started by chetanepic, Oct 10, 2016.

  1. chetanepic

    chetanepic New Member

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    Oil fell back from $50 a barrel in early trade on Monday after Saudi Arabia hinted that the output freeze agreed upon by the OPEC cartel countries last month would be effected quite gradually.

    Oil prices have fallen by more than two-thirds, from over $100 a barrel to under $30 between June 2014 and January 2016. Prices have recovered somewhat this year, rising to nearly $50 in May, before dropping to just over $40 a barrel in recent weeks.

    For more information about stock and commodity, join Epic Research.
     
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