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Wednesday 13 March 2019

EPIC RESEARCH MCX Crudeoil UPDATE OF 13 March 2019

Crudeoil trading range for the day is 3919-4039.

* Crude oil gained as OPEC's de facto leader Saudi Arabia appeared to deepen the group's supply cuts aimed at tightening markets

* Traders also pointed to the political and economic crisis in OPEC-member Venezuela as a driver for oil prices.

* Offsetting OPEC efforts to prop up prices and the impact of disruptions like Venezuela is a surge in U.S. oil supply.

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