News Detail

<p><strong><span style="font-size:14px"><span style="font-family:calibri">News:</span></span></strong></p> <p style="text-align: justify;"><span style="font-size:14px"><span style="font-family:calibri">Oil prices fell on Wednesday as a rise in US inventories added to a deep global glut, while investors discounted any possibility of the Organization of the Petroleum Exporting Countries (OPEC) would do anything to cut production at this week&#39;s meeting.<br /> <span style="font-size:10px">Source: ET</span></span></span></p> <p><strong><span style="font-size:14px"><span style="font-family:calibri">SNP Insights:</span></span></strong></p> <p style="text-align: justify;"><span style="font-size:14px"><span style="font-family:calibri">The investors is likely to see a dip in oil price again as there are low chances that opec countries will cut production in order to defend its market share. However, it will be interesting to see till when the economy of middle east countries specially other than Kuwait and Saudi Arabia who has high buffer and reserve&nbsp;are&nbsp;shielded from the price hit.<br /> <span style="font-size:10px">Source: SNP Infra Research</span></span></span></p>