EPIC RESEARCH MCX Crudeoil UPDATE OF 18 March 2019

Crudeoil trading range for the day is 3951-4121.

* Crude oil dropped as weak data out prompted traders to take profits after prices gained amid production cuts led by OPEC and as U.S. sanctions against Venezuela and Iran.

* The oil market will flip into a modest deficit from the second quarter of this year.

* OPEC and Russia pledged to withhold 1.2 million barrels per day (bpd) in crude supply from the start of the year to tighten markets and prop up prices.


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