EPIC RESEARCH MCX CRUDE OIL UPDATE OF 4 JULY 2016

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Crudeoil trading range for the day is 3200-3336.              
Crude oil eases as the market's focus returned to oversupply as production from Nigeria and Canada revived, and OPEC output reached a record high in June.  
The U.S. energy secretary said Friday he expects the oil market to be in balance in 2017.            
But Ernest Moniz also sees supplies remaining ample due to historically high reserves.

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