EPIC RESEARCH MCX Crudeoil UPDATE OF 12 December 2018

Crudeoil trading range for the day is 3593-3881.

Crude oil recovered losses as risk assets recovered their appeal and a supply outage in Libya continued to support prices ahead of U.S. inventory data.

Energy Minister Novak said that Russia would cut oil output gradually as part of a deal struck last week between OPEC and non-OPEC producers.

Novak told reporters that Russia was on track to reduce production by at least 50,000- 60,000 barrels per day in January.

Hedge funds and other money managers cut their bullish wagers on crude to the lowest in more than two years, the CFTC said


Subscribe now for best Stock Report
US Stock Market News
For quick free trial click here > +917316642316

Connect with our social media sites

Facebook

Twitter

YouTube

Pinterest

Linkedin

Google+