EPIC RESEARCH MCX CRUDE OIL UPDATE OF 28 FEBRUARY 2018

Crudeoil trading range for the day is 4058-4192. Crudeoil fell in yesterday’s session trimming recent gains as the dollar strengthened versus major rivals. Pressure seen as "US shale growth is very strong, the pace is very strong... The US will become the No.1 oil producer sometime very soon," IEA The oil cartel together with Russia agreed in November to extend the 1.8 mbpd output cuts through 2018, to rid the market of excess supplies.

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