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Global crude oil price of Indian Basket slips

Posted on Dec 05, 05:54PM | IBNS

The international crude oil price for Indian Basket as computed/published on Wednesday by the Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas came down to USUSD 108.61/barrel (bbl) on Dec 4 as compared to USUSD 109.25/bbl on the previous trading day's figures of Dec 3. In rupee terms however, the crude oil price increased to Rs 5968.12 per bbl on Dec 4 as compared to Rs 5960.68 per bbl on Dec 3.

This was due to rupee depreciation as rupee dollar-exchange rate on Dec 4 was Rs 54.95/USUSD against Rs 54.56 per USUSD on previous trading day of Dec 3.