EPIC RESEARCH MCX CRUDEOIL UPDATE OF 25 June 2018

Crudeoil trading range for the day is 4421-4805.

Crude oil prices gained as OPEC agreed a modest increase in output to compensate for losses in production at a time of rising global demand.

OPEC agreed to boost output from July after its de facto leader Saudi Arabia persuaded arch-rival Iran to cooperate in efforts to reduce the crude price.

The United States, China and India had urged Vienna-based OPEC to release more supply to prevent an oil deficit that would hurt the global economy.

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