EPIC RESEARCH MCX CRUDE OIL UPDATE OF 07 MARCH 2018

Crude oil trading range for the day is 4002-4140. Crude oil dropped on profit booking after prices gained underpinned by robust demand forecasts. IEA said that global oil demand was expected to grow over the next five years, while output from producers in OPEC would rise at a much slower pace. U.S. crude production has risen to more than 10 million barrels per day (bpd), overtaking top exporter Saudi Arabia.

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