EPIC RESEARCH MCX CRUDE OIL UPDATE OF 12 JUNE 2018

Crude oil trading range for the day is 4339-4545. Crude gained as cracks in a key pipeline threatened Nigerian oil exports and a schism deepened within OPEC over whether to allow more crude to flow onto global markets. Iraq's oil minister warned producers against easing limits on production curbs offsetting reports of an uptick in Russian and Saudi output. Underscoring worries over rising output, U.S. drillers added one oil rig last week, bringing the total count to 862, the highest number since March 2015.

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