EPIC RESEARCH MCX CRUDE OIL UPDATE OF 2 AUGUST 2016

Posted by Farhan Khan on 12:15:00 with No comments
Crudeoil trading range for the day is 2584-2858.               
Crude oil prices dropped amid several bearish reports, including rising output from OPEC, a rise in U.S. drilling and weak economic data from Asia.             Oil output from OPEC is likely in July to have reached its highest in recent history, at 33.41 mbpd in July from a revised 33.31 mbpd in June.      
In OPEC-member Libya, the state oil company said it welcomed the reopening of blockaded oil ports.

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