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Wednesday 14 November 2018

EPIC RESEARCH MCX Crudeoil UPDATE OF 14 November 2018

Crudeoil trading range for the day is 3899-4435.

* Crude oil dropped heavily with surging supply and expectations of faltering demand pressuring crude prices.

* Pressure also seen on reports that U.S. President Donald Trump asked the OPEC not to cut supply to drive up crude oil prices.

* Saudi energy minister Khalid al-Falih announced plans to cut oil output from December and suggested that other members of OPEC and their non-OPEC allies led by Russia.

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