Crudeoil trading range for the day is 2906-3114. Crude oil dropped as rising production among OPEC members outweighed falling US output and a still weak greenback.
The oil cartel pumped 32.64 mbpd in April, according to the fresh market calculation, which is a rise from 32.47 million bpd booked in March.
The World Bank said last week that oil prices should climb to $41 per barrel this year, compared to earlier projections of $37 per barrel.
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