EPIC RESEARCH MCX CRUDE OIL UPDATE OF 23 JANUARY 2017

Crudeoil trading range for the day is 3522-3722. Crude oil prices ended with gains as remarks by the International Energy Agency continued to lend support. Prices remained supported after the IEA said that world oil markets are slowly tightening as demand rises. In its monthly oil market report, the IEA said output cuts announced by OPEC and 11 non-OPEC producers in November had "entered their probation period".

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