The margin on crude oil, which was set at 16.3 per cent on friday, kept on rising today with MCX imposing margins of up to 60%
The potential collapse of the group led by Saudi Arabia and Russia is the latest blow to a market that was already dragged down by fears over the economic damage from the spread of the coronavirus
Iran, bracing for the impact of fresh US sanctions on its oil exports, fiercely objected to raising output targets
Saudi Arabia said the move would translate into a nominal output rise of around 1 million barrels per day (bpd), or 1 per cent of global supply, for OPEC and non-OPEC producers
However, private sector's contribution to both the outputs was very poor