Vienna - Two days before the Organization of the Petroleum Exporting Countries (OPEC) was set to meet in Vienna to discuss production cuts, the cartel's basket price fell by 3.53 dollars Wednesday.

Pulled down by falling stock markets and reports of growing stocks and slowing demand in the United States, one barrel (159 litres) of OPEC crude stood at 60.82 dollars at mid-week, compared with 64.35 dollars on the previous day.

India’s state-run power generator NTPC Ltd has revealed its plans to raise up to Rs 4,500 crore from domestic as well as international markets for meeting its expansion plans in the current financial year.

The company intends to raise up to $500 million from the global market by March, to support their expansion plan.

The company also plans to raise Rs 2,000 crore from the domestic market through private placement of bonds.

NTPC stock ended the day at Rs 144, down 5% compared to its previous close of Rs 152.

Vienna - The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) fell by 0.31 dollars Tuesday, even though cartel members have indicated they might cut production at their meeting on Friday in Vienna.

One barrel (159 litres) of OPEC crude stood at 64.32 dollars Tuesday, down from 64.63 dollars on the previous day.

Analysts expect OPEC to lower production by at least 1 million barrels per day on Friday, as slowing demand has dragged down oil prices.