The oil futures curve is downward sloping, a shape that coincides rather with scarcity not abundance of commodity supplies. That said, the quota reduction is minimal, and many producers remain below their individual levels.
Sensex slumps 583 pts, Nifty below 24,000; 7 key triggers
Indian stock markets experienced a significant downturn on Thursday, with Sensex and Nifty both falling over 0.7%. This decline was driven by soaring oil prices,