Prices are likely to find support around Rs 5,500 on MCX and $65 on NYMEX WTI. However, while potential OPEC+ production cuts and a possible 25 bps rate cut may provide temporary relief, overall market fundamentals suggest continued downward pressure. Ample supply and weak demand growth projections are expected to keep prices low in the near term.
Market expects one more rate cut as inflation stays benign
Indian economists and bond market experts expect another quarter percentage point cut in policy rates. This follows the Reserve Bank of India’s recent rate reduction
December 9, 2025