The Indian equity market continues to decline on Tuesday after rise in crude oil prices. Rupee is trading at a 19-month low also doesn’t make it better at all.
Crude oil prices has been inching higher since the Organisation of the Petroleum Exporting Countries (OPEC) policy meeting.
OPEC and its allies, including Russia have agreed to keep a 100 percent compliance on the agreement on output. Bu the the markets feels that it is only on paper and wouldn’t see that coming it on ground. There are some supply concerns from Libya and Canada.