EPIC RESEARCH MCX Crudeoil UPDATE OF 3 January 2019

Posted by Commodity Updates by Epic Research on 11:05:00 with No comments

Crudeoil trading range for the day is 3021-3513.

* Crude oil gained on signs that Saudi Arabia was fulfilling a pledge to cut exports and U.S. equities pared some of their losses.

* Prices fell on expectations of oversupply amid surging U.S. production and concerns about a global economic slowdown.

* U.S. crude output rose to an all-time high of 11.537 million barrels per day (bpd) in October, the Energy Information Administration (EIA) said.

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