EPIC RESEARCH MCX CRUDE OIL UPDATE OF 27 JANUARY 2017
Posted by aditi on 12:29:00 with No comments
Crudeoil trading range for the day is 3562-3682. Crude oil prices dropped after data showed that U.S. crude supplies rose for the third week in a row last week. OPEC and other producers have agreed to cut production by almost 1.8 million barrels per day (bpd) for the first half of 2017 to fight a supply overhang. U.S. oil production, however, has risen by around half a million bpd since mid-2016 to 8.96 million bpd, offsetting significant amounts of any OPEC-led supply cut.
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