EPIC RESEARCH MCX Crudeoil UPDATE OF 21 September 2018

Crudeoil trading range for the day is 5002-5166.

Crude oil prices turned lower after U.S. President Donald Trump took another swipe at global oil producers.

US President Trump tweeted that the OPEC needs to keep crude prices lower because of the military protection the U.S. provides for the region.

Iran is the third-biggest producer in the OPEC, supplying around 2.5 million barrels per day (bpd) of crude and condensate to markets this year.

The cartel, which includes Saudi Arabia and Iran, will meet in Algeria with non-OPEC producers such as Russia to discuss production levels.

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