EPIC RESEARCH MCX CRUDE OIL UPDATE OF 18 April 2017
Posted by aditi on 11:20:00 with No comments
Crudeoil trading range for the day is 3369-3447. Crude dropped despite bullish Chinese economic data, as investors weighed the impact of a ramp-up in U.S. oil production. Barker Hughes reported its weekly U.S. rig count rose by 11 to 683, it was the thirteenth straight weekly increase Traders look ahead to OPEC’s next meeting, scheduled for May 25; it is widely expected that OPEC will announce the cut global oil supply.
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