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Sharp fall in global crude oil price of Indian Basket

Posted on Nov 29, 04:09PM | IBNS

The international crude oil price for Indian Basket as computed/published on Thursday by the Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas declined sharply to USUSD 107.91/barrel (bbl) on Nov 28 as compared to USUSD 109.52/bbl on the previous trading day's figures of Nov 26. In rupee terms also, the crude oil price fall to Rs 6010.59 per bbl on Nov 28 as compared to Rs 6099.17 per bbl on Nov 26.

This was due to fall in crude oil price in dollar terms Rupee dollar-exchange rate on Nov 28 was Rs 55.70/USUSD against Rs 55.69 per USUSD on previous trading day of Nov 26.