Domestic crude oil basket remained unchanged at the previous day's level of Rs 2,230 ($50.41) a barrel on Friday, the petroleum and natural gas ministry said. | |
| The Indian basket slipped below $50 per barrel on Wednesday at $49.85, the lowest in the current financial year. |
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| The domestic crude basket consists of the Oman-Dubai sour grade crude and the Brent dated sweet crude in 58:42 ratio. |
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On Friday, the Brent crude closed at $52.42 a barrel, up $1.58 from Thursday.
| SLOW 'N STEADY | | Period | price/barrel | | Jan 19 | 50.41 | | Dec average | 60.35 | | Nov average | 57.80 | | Oct average | 57.27 | | Sep average | 61.04 | | Aug average | 70.84 | | Apr-Jun average | 67.13 | | Jul-Sep average | 67.71 | | Oct-Dec average | 58.45 | | FY07 average (so far) | 63.60 | | FY06 average | 55.72 |
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| The Dubai benchmark was down by $1.09 at $48.88 a barrel and the Oman grade fell by $1.04 to $49.23 a barrel. Crude oil for the February delivery on the New York Mercantile Exchange on Friday closed at $51.99 per barrel, up $1.51, due to a rising winter demand in northeast US "� the country's highest consuming region. |
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| The average price of the Indian basket so far in January is $52.18 a barrel against $60.35 in December. |
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