The sharp fall in crude, Prices at the lowest level in 7 years
OPEC crude oil production at the meeting since no loss is increasing steady decline in crude prices . Foreign crude oil prices has come to a 7 year low . On Monday, foreign crude oil prices touched a low of $ 37.50 a barrel, the price is the lowest since February 2009 . The Nymex crude oil is trading around 37.80 dollars a barrel .
Why is increasing degradation
Crude from the oil producing countries of OPEC production organization with no loss because of the strategy being adopted is increasing crude oil prices .Indeed, the OPEC production cut as many smaller producers are putting pressure on major producing countries but major producing countries believe that the renaming would cut the prices are going to the US and other major producing countries outside OPEC organization crude oil production will increase , so the OPEC export market are more likely to end .
The domestic market is also showing the impact
The decline in the domestic foreign exchange market is also showing, On Monday, the commodity exchange MCX crude oil fell by more than Rs 150 to Rs 2,529 per barrel, the lowest close in nearly 7 years expressions.
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