EPIC RESEARCH MCX Crudeoil UPDATE OF 15 February 2019

Crudeoil trading range for the day is 3737-3955.

Crude oil prices rose buoyed by hopes that the Sino-U.S. tariff dispute could end soon and as China's trade figures including crude imports beat forecasts.

Russian Energy Minister Alexander Novak said that there are risks for global oil markets from the political crisis in Venezuela.

Supply issues in OPEC-member Venezuela are also bolstering oil prices as the South American country suffers a political and economic crisis.

Novak said Russia has cut its oil production under a pact between OPEC and non-OPEC producers by 80,000-90,000 barrels per day from its level in October.

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