EPIC RESEARCH MCX CRUDE OIL UPDATE OF 29 MAY 2018

Crude oil trading range for the day is 4403-4633. Crude oil prices extended losses as Saudi Arabia and Russia said they may increase supplies while U.S. production gains show no signs of slowing. OPEC and other producers withholding 1.8mbpd of supplies in 2017 to tighten the market and prop up prices that in 2016 fell to their lowest in more than a decade. U.S. crude production showed no sign of abating as drillers continued to expand their search for new oilfields to exploit.


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