EPIC RESEARCH MCX Crudeoil UPDATE OF 30 January 2019

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

Crudeoil trading range for the day is 3639-3941.

* Crude oil prices crept up after Washington imposed sanctions on Venezuelan state-owned oil firm PDVSA.

* Despite its huge reserves, Venezuela’s exports declined to little more than 1 million barrels per day in 2018 from 1.6 million bpd in 2017, according to data.

* Saudi Arabia expects to reduce oil output once again in February and pump for six months at levels “well below” the production limit.

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