Zee Media Bureau
The international crude oil price of the Indian basket, computed by the Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas, fell to USD 72.51 per barrel on Thursday, compared to USD 76 per barrel on the previous publishing day.
In rupee terms, the price of Indian Basket decreased to Rs 4486.19 per barrel on Nov 27 as compared to Rs 4702.12 per barrel on Nov 26, an official press release said.
Crude oil prices hit multi-year lows this week after OPEC held output levels despite global oversupply, in a move perceived by some analysts as an attack on booming US shale energy.
The no-change decision sent London Brent oil collapsing on Friday, sinking below USD 70 for the first time in four and a half years, to USD 69.78 a barrel.
Brent later settled at USD 70.15 a barrel, down USD 2.43 from Thursday`s close.
In New York, Texas crude closed at USD 66.15 a barrel, plunging USD 7.54 to its lowest close since September 2009.
