EPIC RESEARCH MCX CRUDE OIL UPDATE OF 13 DECEMBER 2016

Crudeoil trading range for the day is 3433-3721. Crudeoil rallied after major oil producers reached a deal over the weekend to cut output in an attempt to reduce the global supply overhang. OPEC and non-OPEC producers, reached their first deal since 2001 on coordinated production cuts to cut the worldwide glut in oil and drive prices higher. Saudi Arabia has told its U.S. and European customers it will reduce oil deliveries from January.

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