Domestic crude oil basket falls to $52.87

India's crude oil import basket Friday dropped over 4 per cent to $52.87 (Rs 2,346) per barrel, the petroleum and natural gas ministry said today.

The Indian crude basket comprises Oman-Dubai sour grade crude and Brent dated sweet crude in 58:42 ratio. Friday, Brent crude closed at $52.90 per barrel, down $1.66 from Thursday.

The Dubai benchmark was down $2.78 at $52.54 per barrel and Oman fell by $2.8 at $53.17.

Crude oil for February delivery on the New York Mercantile Exchange Friday closed at $57.33 per barrel, down 99 cents from Thursday.

The fall is mainly due to continued forecasts for warmer winter in the US and a US energy department report showing a rise in gasoline stockpiles by 5.6 million barrel in the week ended December 29.

The basket had averaged $60.35 per barrel in December. In November, it was $57.80 per barrel.