MCX Crude Oil

Crude Oil Up as Saudi Russia Pact and Canada Cuts Ease Supply Fears – Gold Silver Reports (GSR)

Futures in New York rose as much as 1.5 percent, extending Monday’s 4 percent gain. An agreement between Saudi Arabian Crown Prince Mohammed bin Salman and Russian President Vladimir Putin over the weekend raised the possibility of an output accord when OPEC and its partners meet in Vienna on Dec. 6. Prices also received a boost after Canada’s Alberta province announced plans to cut production by 325,000 barrels a day.

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Crude Oil Prices

Saudi Arabia Pumps Record Amount of Oil as Trump Piles on Pressure

Gold Silver Reports (GSR) – The meeting, at which OPEC members will consider how to arrest a decline in oil prices, comes days after leaders of top global oil producers – Russian President Vladimir Putin, Saudi Crown Prince Mohammed bin Salman and Trump – travel to Argentina for a G20 summit this week.

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Rupee Moves Sharply Higher Against Dollar

The rupee moved 42 paise higher against the dollar to hit 73.15 in early trade on Wednesday. Gains in the rupee came a day after crude oil prices registered their biggest single-session fall in three months. Selling of the greenback by exporters amid sharp losses in crude oil prices supported the rupee, say analysts.

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