EPIC RESEARCH MCX CRUDE OIL UPDATE OF 29 NOVEMBER 2016

Crudeoil trading range for the day is 3076-3366. Crude oil gained after Iraq’s oil minister said he was “optimistic” that Wednesday’s crunch OPEC meeting will yield an agreement on output cuts. OPEC experts ended their meeting without agreeing on concrete details of a planned reduction in oil output by individual countries. Saudi Arabian Energy Minister Khalid al-Falih said that he believed the oil market would balance itself in 2017 even if producers did not intervene.




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