Oil prices slide as Trump urges OPEC not to cut supply

Last Updated: Thu, Dec 06, 2018 10:03 hrs

New York: Oil prices have extended losses as US President Donald Trump once again tried to dampen OPEC's efforts to tackle falling oil prices amid market expectations on further output cut.

"Hopefully OPEC will be keeping oil flows as is, not restricted. The World does not want to see, or need, higher oil prices!" Trump said on Twitter on Wednesday, Xinhua news agency reported.

The West Texas Intermediate for January delivery decreased $0.36 to settle at $52.89 a barrel on the New York Mercantile Exchange, while Brent crude for January delivery decreased $0.52 to close at $61.56 dollars a barrel on the London ICE Futures Exchange.

The remarks came just a day prior to OPEC's meeting in Vienna, piling pressure on the Saudi-led cartel, Russia and other non-member nations over potential global oil policy-making.

Moscow has shown willingness to cooperate with OPEC to cut oil production. Russia's oil giant Lukoil said it's ready to cut production if the upcoming meeting results in a deal to prop up prices, the company's CEO Vagit Alekperov told reporters, according to TASS news agency.

Yet he said such a reduction could be done "only gradually," due to the adverse weather conditions in Western Siberia. "The reduction should be smooth, just like last year," Alekperov was quoted as saying.

State Capitals (Applicable from 6:00 a.m. on 06-12-2018) Petrol Current Price(Per Lt) Petrol Previous Price(Per Lt) Change(Rs)
Petrol price in DelhiRs.71.72 Rs.71.72 0.00
Petrol price in KolkataRs.73.75 Rs.73.75 0.00
Petrol price in MumbaiRs.77.29 Rs.77.29 0.00
Petrol price in ChennaiRs.74.41 Rs.74.41 0.00
Petrol price in FaridabadRs.70.98 Rs.70.93 0.05
Petrol price in GurgaonRs.70.73 Rs.70.61 0.12
Petrol price in NoidaRs.71.36 Rs.71.26 0.10
Petrol price in GhaziabadRs.71.15 Rs.71.15 0.00
Petrol price in AgartalaRs.68.49 Rs.68.49 0.00
Petrol price in AizwalRs.68.12 Rs.68.18 -0.06
Petrol price in AmbalaRs.70.33 Rs.70.40 -0.07
Petrol price in BangaloreRs.72.27 Rs.72.27 0.00
Petrol price in BhopalRs.74.75 Rs.74.75 0.00
Petrol price in BhubhaneswarRs.70.66 Rs.70.66 0.00
Petrol price in ChandigarhRs.67.77 Rs.67.77 0.00
Petrol price in DehradunRs.71.66 Rs.71.66 0.00
Petrol price in GandhinagarRs.69.38 Rs.69.26 0.12
Petrol price in GangtokRs.75.05 Rs.75.05 0.00
Petrol price in GuwahatiRs.71.30 Rs.71.30 0.00
Petrol price in HyderabadRs.76.03 Rs.76.03 0.00
Petrol price in ImphalRs.67.87 Rs.67.87 0.00
Petrol price in ItanagarRs.65.47 Rs.65.47 0.00
Petrol price in JaipurRs.72.31 Rs.72.40 -0.09
Petrol price in JammuRs.71.35 Rs.71.10 0.25
Petrol price in JalandharRs.76.94 Rs.76.79 0.15
Petrol price in KohimaRs.68.68 Rs.68.68 0.00
Petrol price in LucknowRs.71.07 Rs.71.22 -0.15
Petrol price in PanjimRs.64.05 Rs.63.89 0.16
Petrol price in PatnaRs.75.76 Rs.75.78 -0.02
Petrol price in Port BlairRs.61.99 Rs.61.99 0.00
Petrol price in RaipurRs.69.99 Rs.70.07 -0.08
Petrol price in RanchiRs.70.57 Rs.70.36 0.21
Petrol price in ShillongRs.68.99 Rs.68.90 0.09
Petrol price in ShimlaRs.70.67 Rs.71.10 -0.43
Petrol price in SrinagarRs.74.13 Rs.74.13 0.00
Petrol price in TrivandrumRs.74.72 Rs.74.78 -0.06
Petrol price in SilvassaRs.70.06 Rs.70.06 0.00
Petrol price in DamanRs.69.96 Rs.69.96 0.00
Petrol price in PondicherryRs.70.85 Rs.70.85 0.00

Source for prices: Indian Oil Corporation

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