EPIC RESEARCH MCX CRUDE OIL UPDATE OF 13 MARCH 2018

Crude oil trading range for the day is 3893-4081. Crude oil dropped amid renewed fears that a ramp up in U.S. shale output could undermine major oil producers’ efforts to reduce global crude supplies. According to EIA, Shale crude-oil production from seven major U.S. oil plays is expected to see a climb of 131,000 barrels a day in April to 6.954mbpd.

Fears that rising U.S. output could dampen global efforts to rid the market of excess supplies persist.

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