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Thursday 6 December 2018

EPIC RESEARCH MCX Crudeoil UPDATE OF 6 December 2018

Crudeoil trading range for the day is 3622-3942.

Crude oil gained ahead of a meeting by producer group OPEC that is expected to result in a supply cut.

Oman Oil Minister: Baseline for oil production cut will be September or October

Russia agrees to reduce oil output in tandem with OPEC and allies in 2019. Debates about figures and baselines for cuts is still ongoing

API said U.S. crude inventories rose by 5.4 million barrels in the week to Nov. 30, to 448 million barrels, in a sign that U.S. oil markets are in a growing glut.

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