EPIC RESEARCH MCX Crudeoil UPDATE OF 12 November 2018

Posted by Commodity Updates by Epic Research on 12:10:00 with No comments

Crudeoil trading range for the day is 4235-4487.

* Crude oil dropped as global supply increased and investors worried about the impact on fuel demand of lower economic growth and trade disputes.

* The United States, Russia and Saudi Arabia are pumping at or near record highs, producing more than 33 million barrels per day (bpd), a third of the world’s oil.

* The U.S. sanctions, meanwhile, are unlikely to cut supply as much as expected.

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