EPIC RESEARCH MCX CRUDE OIL UPDATE OF 03 MAY 2017

Crude oil trading range for the day is 2990-3220.Crude oil dropped as rising production in several countries balanced expectations that major exporters would extend output cuts into the second half of the year.Libya's oil production has risen above 760,000 barrels per day (bpd), its highest level since December 2014, the National Oil Corporation (NOC) said.Russian oil production fell slightly last month to 11.00 million bpd, almost hitting its output target under the deal with OPEC, Energy Ministry data showed.




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