EPIC RESEARCH MCX CRUDE OIL UPDATE OF 23 AUGUST 2018

Crude oil trading range for the day is 4583-4863. Crude oil gained as weekly data showed that oil supplies in the U.S. registered a much larger-than-expected draw. The U.S. Energy Information Administration said in its weekly report that crude oil inventories fell by 5.836 million barrels in the week. OPEC and other oil exporting producers are expected to agree on a mechanism to monitor their crude production before the end of the year, Kuwaiti Oil Minister said.

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