Crude oil futures traded marginally lower on MCX, as speculators trimmed their positions as Russia hinted it may gradually increase output, after having withheld supplies in concert with producer cartel the Organization of the Petroleum Exporting Countries (OPEC) since 2017.
The contract for June delivery was trading at Rs 4831.00, down by 0.58% or Rs 28.00 from its previous closing of Rs 4859.00. The open interest of the contract stood at 18203 lots.
The contract for July delivery was trading at Rs 4842.00, down by 0.49% or Rs 24.00 from its previous closing of Rs 4866.00. The open interest of the contract stood at 882 lots on MCX.