EPIC RESEARCH MCX Crudeoil UPDATE OF 23 August 2018

Crudeoil trading range for the day is 4583-4863.

* Crude oil gained as weekly data showed that oil supplies in the U.S. registered a much larger-than-expected draw.

* The U.S. Energy Information Administration said in its weekly report that crude oil inventories fell by 5.836 million barrels in the week.

* OPEC and other oil exporting producers are expected to agree on a mechanism to monitor their crude production before the end of the year, Kuwaiti Oil Minister said.


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