EPIC RESEARCH MCX CRUDE OIL UPDATE OF 06 MARCH 2018

Crude oil trading range for the day is 3953-4149. Crude oil gained buoyed by a report of further declines in crude stockpiles at the Cushing storage hub in Oklahoma. Rising U.S. shale oil production has been a drag on the OPEC's commitment to erode a prolonged global oil glut and prop up prices. U.S. crude oil production has already risen past that of top exporter Saudi Arabia, to 10.28 million barrels per day (bpd).

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