EPIC RESEARCH MCX CRUDE OIL UPDATE OF 28 NOVEMBER 2017

Crudeoil trading range for the day is 3666-3856. Crude oil dropped amid uncertainty over a possible extension of output cuts by major crude producers and expectations of higher supply as the Keystone pipeline restarts. Uncertainty over Russia's determination to join with other major oil producers in extending crude production curbs beyond next March has weighed on oil markets. U.S. crude production has risen by 15 percent since mid-2016 to 9.66 million barrels per day (bpd), not far from top producers Russia and Saudi Arabia.









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