EPIC RESEARCH MCX CRUDEOIL UPDATE OF 16 July 2018

Crudeoil trading range for the day is 4734-4982.

* Crude oil prices rose as strike actions in Norway and Iraq hit supplies, but prices ended the second straight week of decline after Libyan ports reopened.

* Energy minister Alexander Novak said that Russia this month has restored 80 percent of the oil production it cut under a pact with other producers.

* OPEC and non-OPEC oil producers will act in the event developments in Venezuela and Libya cause an oil market deficit, Russian Energy Minister told.

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