![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjiY-wiNHPr3C04bSORn47xNZipZ0oEsPM_BSgN3viX-OiAafx14iSxBycAYM9uvOnhURZdK32Ext0IDTmbSzeQR-l_W__D6z7RtQu8HQ8agMKKp-8pw1-sFJEaNT-dyUtZEg4aRdKeBvM/s320/crude-oil-trades-up11.jpg)
Crudeoil trading range for the day is 3565-3775.
Crude oil gained amid supply cuts led by producer club OPEC and Russia, although a darkening economic outlook may soon weigh on growth in fuel demand.
United Arab Emirates Energy Minister Suhail al-Mazrouei said he expects an average oil price of $70 a barrel in 2019 on the back of an agreement to cut output.
The Middle East-dominated producer club of the OPEC and some non-OPEC allies, including Russia, agreed in late 2018 to cut supply to rein in a global glut.
In the United States, the amount of rigs looking for new oil production has dropped from a 2018-peak of 888 to a still high number of 873 in early 2019.
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