EPIC RESEARCH MCX CRUDE OIL UPDATE OF 16 FEBRUARY 2018

Crudeoil trading range for the day is 3772-4002.Crude oil gained supported by Saudi Arabia's comment that it would rather see an undersupplied market than end an OPEC-led deal to withhold production too soon. Saudi Energy Minister Khalid al-Falih said the OPEC would do better to leave the market tight than end the deal on cutting output too early. The OPEC-led deal to cut output by 1.8 million barrels per day, almost 2 percent of global supply, started a year ago.

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