MCX India Crude Oil Prices and News Updates. MCX Crude Oil Live Chart with Volume, OI and Prices. Free MCX Crude Oil Tips. Know about MCX Crude Oil lot size and margin required What Determines Oil Prices? - Investopedia Mar 09, 2020 · While the consortium has vowed to keep the price of oil above $100 a barrel for the foreseeable future, in mid-2014, it refused to cut oil production, even as prices began to tumble. As a result, the cost of crude fell from a peak of above $100 a barrel to below $50 a barrel.