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Friday 22 February 2019

EPIC RESEARCH MCX Crudeoil UPDATE OF 22 February 2019

Crudeoil trading range for the day is 4003-4139.

* Crude oil edged lower with concerns over excess supply in the market weighing on the prices.

* The EIA data showed that crude oil inventories rose by 3.67 million barrels in the week to Feb. 15.

* The main factor keeping oil prices from rising even further is soaring U.S. oil production, which rose by more than 2 mbpd last year, to a record 11.9 million bpd.

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