Crudeoil trading range for the day is 2818-3008. Crude oil gained boosted by expectations that demand could grow quickly enough to match supply this year.
Saudi Arabia is expected to keep its capacity at 12 mbpd as Saudi Arabian Oil will complete an expansion of its Shaybah oilfield by the end of May.
Iran's crude oil production is close to pre-sanction levels, as output grew by 1 million bpd since economic sanctions were lifted in January.
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