EPIC RESEARCH MCX CRUDE OIL UPDATE OF 19 MAY 2017

Crudeoil trading range for the day is 3076-3288.Crude settled higher as investors remained optimistic that OPEC would reach an agreement to extend the current supply-cut.Prices have been trapped in a tight range in recent weeks as rising US production has erased the effects of output cuts.Saudi Arabia and Russia agreed earlier this week that production cuts needed to be extended for a period of nine months until March 2018.




For MCX TIPS ✆ – 0731-6642300




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