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.