EPIC RESEARCH MCX CRUDE OIL UPDATE OF 05 DECEMBER 2017

Crudeoil trading range for the day is 3679-3767. Crude oil dropped after U.S. shale drillers added more rigs last week, but prices still held close to their highest since mid-2015. Drillers in the United States added two oil rigs, bringing the total count up to 749, highest since September, energy services firm Baker Hughes said. Last week, the producers agreed to extend those cuts of 1.8 million barrels per day (bpd) until the end of next year.

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