Posted by aditi on 10:56:00 with No comments
Crudeoil trading range for the day is 3589-3725. Crude oil gained drawing support from expectations of tighter supply once the first output cut deal between OPEC and non-OPEC producers. Jan. 1 brings the official start of the deal agreed by OPEC and non-OPEC members to lower production by almost 1.8 million barrels per day. Russia's oil exports would rise by almost 5 percent this year to 253.5 million tonnes, and a "slight" increase was expected next year.
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