EPIC RESEARCH MCX Crudeoil UPDATE OF 29 March 2019

Crudeoil trading range for the day is 4026-4162.

Crude oil dropped after government data showed US crude stockpiles unexpectedly rose last week.

US crude inventories rose by 2.8 million barrels in the week ended March 22, compared with expectations for a decrease of 1.2 million barrels.

The EIA also reported that gasoline inventories fell by 2.88 million barrels, compared with expectations for a draw of 2.78 million barrels.

Crude oil production from the OPEC was down 1.5mbpd year-on-year to 30.5mbpd in February.


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