EPIC RESEARCH MCX CRUDE OIL UPDATE OF 1 JULY 2016

Crudeoil trading range for the day is 3242-3386.              
Crude oil dropped as traders trimmed huge gains from the previous session hoping for more time to assess the UK's landmark decision to leave the EU.      Oil production in Nigeria has risen to about 1.9 mbpd from 1.6 million, due to repairs and a lack of new major attacks on pipelines in the Delta region.  
In Norway, oil companies and trade unions began two-day wage talks in a bid to avert a strike that would initially cut the country's oil and gas output by 12 percent.

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