Monday, 2 May 2016

EPIC RESEARCH MCX CRUDE OIL UPDATE OF 2 MAY 2016

11:52:00

Crudeoil trading range for the day is 2966-3150.
Crude oil dropped after a survey showed that OPEC production in April reached near-record highs.
A survey found that OPEC increased production by 170,000 barrels per day from 32.47 million to 32.64 million bpd.
Investors shrugged off a bullish report, the oil services firm reported that U.S. oil rigs last week dropped by 11 to 332 last week to hit a fresh six-year low.
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