Seven offshore oil services providers fell by 0.75% to 4.4% at 12:52 IST on BSE as crude prices slumped yesterday, 5 January 2015.
Dolphin Offshore (down 4.4%), SEAMEC (down 4.29%), Aban Offshore (down 3.46%), GOL Offshore (down 3.18%), Deep Industries (down 2.89%), Jindal Drilling & Industries (down 2.26%) and Global Offshore Services (down 0.75%), edged lower. However, Shiv Vani Oil & Gas Exploration Services surged 20%
The S&P BSE Sensex was down 601.64 points, or 2.16% at 27,240.68 .
Brent crude futures was almost flat after a steep slide yesterday, 5 January 2015. Brent for February settlement was down 4 cents at $53.07 a barrel. The contract slumped $3.31 a barrel or 5.9% to settle at $53.11 a barrel yesterday, 5 January 2015, its lowest settlement since 1 May 2009, amid speculation rising global output will exacerbate oil supply glut.
Shares of offshore oil services providers fell as a decline in crude oil prices raised concerns that oil firms may go slow on expansion of exploration and production activities.
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