EPIC RESEARCH MCX Crudeoil UPDATE OF 27 November 2018

Posted by Commodity Updates by Epic Research on 11:28:00 with No comments

Crudeoil trading range for the day is 3545-3779.

* Crude oil gained buoyed by growing expectations that major oil producers will agree to cut output at a meeting early next month.

* Global supply, led by the United States, growing more quickly than demand; crude prices on track for biggest 1-month decline since late 2014.

* International Energy Agency (IEA) expects non-OPEC output to rise by 2.3 mln bpd this year, up from earlier forecast of 1.8 mln bpd

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