EPIC RESEARCH MCX CRUDE OIL UPDATE OF 2 MAY 2018

Crude oil trading range for the day is 4414-4602. Crude oil prices settled lower as signs of rising US oil production renewed focus on the rapid pace of US output. U.S. drillers added five oil rigs in the week to April 27, bringing the total count to 825, the highest level since March 2015. Crude production in the United States has soared more than 25 percent since mid-2016 to a record 10.59 million barrels per day.

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