EPIC RESEARCH MCX CRUDE OIL UPDATE OF 08 FEBRUARY 2018

Crudeoil trading range for the day is 3844-4166. Crude oil prices turned lower in the wake of data showing U.S. oil production topped the 10 million barrels per day (bpd) mark last week. U.S. crude stocks rose last week as refineries hiked output, while gasoline stocks increased and distillate inventories rose, the EIA said. Crude inventories rose by 1.9 million barrels in the week to Feb. 2, compared with expectations for an increase of 3.2 million barrels.

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