Global Crude oil price of Indian Basket was US$ 52.98 per bbl on 22 May

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The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 52.98 per barrel (bbl) on 22 May. This was higher than the price of US$ 52.30 per bbl on previous publishing day of 19 May.

In rupee terms, the price of Indian Basket increased to Rs. 3420.57 per bbl on 22 May as compared to Rs. 3399.00 per bbl on 19 May. The rupee closed stronger at Rs 64.56 per US$ on 22 May as compared to Rs. 64.99 per US$ on 19 May.

Earlier today, Oil Minister Dharmendra Pradhan, at the 2nd high-level meet of the OPEC-India Energy Dialogue in Vienna, urged the OPEC to halt charging a premium for Asian buyers.

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