For the first time in the last 52 weeks, crude oil prices closed at a level lower than what it was a year ago. On Friday (October 10, 2008), Nymex crude futures closed at $77.61/bbl, comfortably below last year's price of $78.23/bbl. It has been a big relief to consuming nations, who have been at the mercy of the 11-member Organisation of Petroleum Exporting Countries (OPEC).
And what will the impact of falling prices be here in India Market?
