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Tuesday 13 November 2018

EPIC RESEARCH MCX Crudeoil UPDATE OF 13 November 2018

Crudeoil trading range for the day is 4311-4527.

* Crude oil gained after top exporter Saudi Arabia announced a December supply cut, a measure likely aimed at halting a market slump

* Saudi Arabia plans to reduce oil supply to world markets by 0.5 million barrels per day (bpd) in December, its energy minister said.

* Khalid al-Falih told reporters that Saudi Aramco’s customer nominations would fall by 500,000 bpd in December versus November due to seasonal lower demand.

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