EPIC RESEARCH MCX CRUDE OIL UPDATE OF 27 MARCH 2018

Crude oil trading range for the day is 4192-4306. Crude oil prices settled lower on profit taking and renewed focus on growing U.S. output amid a rise in domestic oil rigs. Crude was also weighed by a rise in the number of U.S. rigs drilling for oil to a three-year high of 804, implying further rises in production. China’s crude imports to grow by 2.1 million bpd from 2017 to 2023, which it said was the world’s biggest growth in demand.

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