EPIC RESEARCH MCX CRUDE OIL UPDATE OF 25 MAY 2016

Posted by Farhan Khan on 11:33:00 with No comments
Crudeoil trading range for the day is 3209-3369.              
Crude oil rallied as a string of production slowdowns in Canada, Nigeria and
Libya in recent weeks has provided upside pressure.           
API said that crude oil stock dropped 5.137mbls last week, compared to a decline of 3.3 million barrels seen, as refineries typically ramp up
gasoline production.               
Iraq OPEC governor indicated that production nationwide is hovering around 4.5mbpd, amid slowing output due primarily to poor weather, maintenance issues.


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