EPIC RESEARCH MCX CRUDE OIL UPDATE OF 6 JUNE 2018

Crude oil trading range for the day is 4286-4452. Crude oil gained shrugging off fears of an uptick in global output following a report that the U.S. government had asked major oil producers to increase oil output. The U.S. government has asked Saudi Arabia and some other OPEC producers to increase oil production by about 1 million barrels per day (bpd). Saudi Arabia and Russia were already discussing raising OPEC and non-OPEC oil output by around 1 million bpd.

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