EPIC RESEARCH MCX CRUDE OIL UPDATE OF 15 NOVEMBER 2017

Crudeoil trading range for the day is 3554-3756.Crude oil dropped after the International Energy Agency cast doubts over the past months’ narrative of tightening fuel markets. The IEA cut its oil demand growth forecast by 100,000 bpd for this year and next, to an estimated 1.5 million bpd in 2017 and 1.3 million bpd in 2018. The IEA said non-OPEC production will add 1.4 million bpd of additional production in 2018.






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