EPIC RESEARCH MCX CRUDE OIL UPDATE OF 30 JUNE 2017

Crudeoil trading range for the day is 2881-2965.Crude oil rose after a decline in weekly U.S. crude production temporarily eased concerns about deepening oversupply.The EIA said crude stocks rose 118,000 barrels, while weekly production declined 100,000 barrels per day (bpd) to 9.3 million bpd.Still, global supplies are ample despite output cuts by the OPEC and other producing countries of 1.8 million bpd since January.

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