EPIC RESEARCH MCX CRUDE OIL UPDATE OF 6 JANUARY 2017

Crudeoil trading range for the day is 3543-3719. Crude oil prices rose after reports Saudi Arabia had started talks with customers about a reduction of up to 7 percent in crude sales in February. US crude stocks fell last week as refineries hiked output, while gasoline stocks increased and distillate inventories rose, the EIA said. Saudi Arabia agreed to cut output by 486,000 barrels per day (bpd), or 4.61 percent of its October output of 10.544 million bpd.




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