Crude oil rises on OPEC meet optimism 22/05/2017

Crude oil rises on OPEC meet optimism
22/05/2017

Crude oil futures closed higher in the domestic market on Friday as investors expressed optimism about possible price-supportive outcomes from a closely watched OPEC meeting this week.
Prices, however, settled below the session’s best levels as a weekly report revealed an 18th weekly increase in the number of active U.S. oil rigs.At the MCX, crude oil futures for May 2016 contract closed at Rs 3266 per barrel, up by 1.97 per cent, after opening at Rs 3220, against a previous close of Rs 3203. It touched the intra-day high of Rs 3282.

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