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Oil Demand

Crude Oil Slides as OPEC+ Increases August Production

MCX Live Updates

Crude oil prices experienced a decrease of 0.26%, concluding at Rs 6,551. This decline occurred as market pressures mounted following OPEC+’s decision to increase production targets starting in August, alongside a recovery in exports through the Strait of Hormuz, which alleviated concerns regarding supply disruptions. The producer group sanctioned an extra output increase of 188,000 Read More

Crude Oil Plummets as EIA Reveals Major Inventory Surge

MCX Live Updates

Crude oil experienced a decline of 0.32%, concluding at Rs 5,989, following the U.S. Energy Information Administration’s report of the most significant weekly crude inventory increase in three years. U.S. crude inventories surged by 15.99 million barrels to reach 435.8 million in the week ending February 20, significantly surpassing projections of a slight increase. Inventories Read More

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