EPIC RESEARCH MCX CRUD OIL UPDATE OF 31 MAY 2018

Crudeoil trading range for the day is 4429-4721.

Crude oil gained supported by tight supplies despite expectations OPEC and its allies will pump more in the second half of 2018.

The global oil industry should ramp up investment to ensure it can cope with future consumption growth and avoid supply shortages, OPEC Secretary-General told.

The two oil-producing nations recently discussed raising OPEC and non-OPEC oil output by 1 mbpd to counter potential supply shortfalls from Venezuela and Iran.

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