EPIC RESEARCH MCX Crudeoil UPDATE OF 7 August 2018

Posted by Commodity Updates by Epic Research on 11:15:00 with No comments
Crudeoil trading range for the day is 4665-4863.

* Crude prices edged up amid reports that Saudi Arabia pumped fewer crude barrels in July, while the U.S. saw a drop in active drilling rigs.

* Saudi Arabia, produced 200,000 barrels less per day in July – only 10.29 million a day last month, according to reports.

* OPEC decided to boost output from July and reported last Wednesday that its output in July rose by 300,000 barrels per day.

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