Black days ahead for crude oil

Nirmal Bang has come out with its report on Crude oil. "We remain bearish on crude oil with a downside target of $86-88 per barrel and in INR terms we see it to correct to the levels of Rs 4800 per barrel.”

December 15, 2011 / 15:39 IST

Nirmal Bang has come out with its report on Crude oil.

Crude oil recent journey

Crude oil prices made a high of $102.59/barrel this quarter after testing low of $75/barrel in early October and the rally was mainly driven by supply concerns from the Arab nations. A series of supply disruptions have helped to keep the oil prices at such elevated levels despite a weak outlook for the world economy and a decline in global fuel demand.

first published: Dec 15, 2011 03:16 pm

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