EPIC RESEARCH MCX CRUDE OIL UPDATE OF 28 AUGUST 2017

Crudeoil trading range for the day is 3025-3089.Crude oil prices gained as the U.S. petroleum industry braced for Hurricane Harvey.Prices rose as production in the affected area shut down and on expectations that closures could last if the storm causes extensive damage.OPEC, together with non-OPEC producers including Russia, has pledged to cut output by around 1.8 mbpd this year and during the first quarter of 2018.

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