Crudeoil trading range for the day is 3162-3236. Crude oil prices settled flat but speculators sharply cut long positions during last week's rout. The market failed to rebound after Saudi Arabia Minister Khalid al-Falih said the cuts by the OPEC and non-OPEC producers could be extended beyond June. The potential for increased U.S. production continues to build, as weekly rig count data showed an increase of 14 drilling rigs in US.
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