![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjiY-wiNHPr3C04bSORn47xNZipZ0oEsPM_BSgN3viX-OiAafx14iSxBycAYM9uvOnhURZdK32Ext0IDTmbSzeQR-l_W__D6z7RtQu8HQ8agMKKp-8pw1-sFJEaNT-dyUtZEg4aRdKeBvM/s320/crude-oil-trades-up11.jpg)
Crudeoil trading range for the day is 3863-4257.
* Crude oil dropped as investors weighed up the effectiveness of a potential cut in supply from OPEC and possibly other exporters in the face of rapidly rising global output.
* Russian Energy Minister Novak says plans to sign OPEC partnership deal
* OPEC led by Saudi Arabia, is pushing for the producer cartel and its allies to cut 1 million to 1.4 mbpd of supply to adjust for a slowdown in demand growth.
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