EPIC RESEARCH MCX Crudeoil UPDATE OF 04 September 2018

Posted by Commodity Updates by Epic Research on 11:48:00 with No comments

Crudeoil trading range for the day is 4896-5076.

* Crude oil gained as falling Iranian output supported concerns over tightening markets.

* Output from the producer cartel of the OPEC rose by 220,000 barrels per day (bpd) between July and August, to a 2018-high of 32.79 million bpd.

* Output was boosted by a recovery in Libyan production and as Iraq's southern exports hit a record.

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