Analysts said fresh bets created by participants kept crude prices higher in futures trade.

India’s November oil imports rose 12.7 per cent to 19.17 million tonnes (about 4.7 million barrels per day).

Analysts said the fall in crude oil futures was mostly due to trimming of positions by traders.

Analysts said the fall in crude oil futures was mostly due to trimming of positions by traders amid weak global cues.

Analysts said raising of bets by participants kept crude prices higher in futures trade here.

Marketmen said the fall in crude oil futures was mostly due to trimming of positions by traders in tandem with a weak trend overseas.

The fall in crude oil futures was mostly due to trimming of positions by traders, in line with weak global cues, analysts said.

The group has been withholding 1.2 million bpd and the increased amount represents about 1.7 per cent of global oil output.

On the Multi Commodity Exchange, crude oil prices for December delivery dropped by Rs 12, or 0.29 per cent, to Rs 4,157 per barrel.

OPEC+ on Jan 1 this year cut output by 1.2 million barrels per day (bpd), and in July, renewed the pact until March 2020.