EPIC RESEARCH MCX CRUDE OIL UPDATE OF 24 JANUARY 2017

Crudeoil trading range for the day is 3548-3670. Crude oil prices ended with losses as prospects of rising U.S. production weighed on the market. OPEC and non-OPEC countries have made a strong start to lowering their oil output under the first such pact in more than a decade, energy ministers said. Baker Hughes said that the number of rigs drilling for oil jumped by 29 to 551, the largest weekly increase since a recovery in the rig count began in June.




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