EPIC RESEARCH MCX Crudeoil UPDATE OF 20 November 2018

Posted by Commodity Updates by Epic Research on 11:55:00 with No comments

Crudeoil trading range for the day is 3863-4257.

* Crude oil dropped as investors weighed up the effectiveness of a potential cut in supply from OPEC and possibly other exporters in the face of rapidly rising global output.

* Russian Energy Minister Novak says plans to sign OPEC partnership deal

* OPEC led by Saudi Arabia, is pushing for the producer cartel and its allies to cut 1 million to 1.4 mbpd of supply to adjust for a slowdown in demand growth.

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