Crude oil futures traded higher on MCX with offloading of bets amid report that OPEC oil production dipped to an eight-year low in September after attacks on Saudi oil plants trimmed production, deepening the impact of a supply pact and US sanctions on Iran and Venezuela.
The contract for October delivery was trading at Rs 3894.00, up by 0.36% or Rs 14.00 from its previous closing of Rs 3880.00. The open interest of the contract stood at 19515 lots.
The contract for November delivery was trading at Rs 3905.00, up by 0.39% or Rs 15.00 from its previous closing of Rs 3890.00. The open interest of the contract stood at 1057 lots on MCX.