EPIC RESEARCH MCX CRUDE OIL UPDATE OF 28 MARCH 2018

Crude oil trading range for the day is 4175-4333. Crude oil prices settled lower as traders braced for data expected to show U.S. crude stockpiles resumed their expansion amid an ongoing ramp up in domestic output. OPEC together with a group of non-OPEC producers led by Russia, has curtailed production since January 2017 to prop up prices. The deal is scheduled to last through 2018, and there has been recent support by OPEC’s de-facto leader Saudi Arabia to extend the cuts into 2019.

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