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Monday, 28 November 2016

EPIC RESEARCH MCX CRUDE OIL UPDATE OF 28 NOVEMBER 2016


Crudeoil trading range for the day is 3119-3313. Crude oil dropped dragged by a strong dollar and uncertainty over whether OPEC will agree to cut production at the group's meeting. A decline in China's October crude oil imports to their lowest on a daily basis since January added to the bearish tone. The oil minister of non-OPEC nation Azerbaijan said OPEC was also pushing oil producers outside the group to make big cuts in output.

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