EPIC RESEARCH MCX CRUDE OIL UPDATE OF 6 AUGUST 2018

Crude oil trading range for the day is 4590-4812. Crude oil pulled back, giving up gains from the previous session as trade concerns weighed on the market and fuelled concerns about demand. Saudi Arabia’s crude oil production in July was around 10.290 million barrels per day, two OPEC sources said. The amount of oil supplied to the market in July was slightly higher at 10.380 million bpd, the sources said. China’s crude oil imports from the United States reached an average of 334,880 bpd in the first eight months of this year, according to data.

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