EPIC RESEARCH MCX Crudeoil UPDATE OF 5 November 2018

Posted by Commodity Updates by Epic Research on 11:33:00 with No comments

Crudeoil trading range for the day is 4505-4717.

* Crude oil dropped after a report that Washington has granted several countries waivers on sanctions on Tehran, allowing them to continue to import Iranian crude.

* Iran's crude oil exports to fall to 1.15 million bpd by the end of the year, down from around 2.5 million bpd in mid-2018.

* Russian Energy Ministry data showed the country pumped 11.41 million barrels per day (bpd) of crude oil in October, a 30-year high.

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