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Thursday 28 March 2019

EPIC RESEARCH MCX Crudeoil UPDATE OF 28 March 2019

Crudeoil trading range for the day is 4041-4211.

Crude oil prices remained under pressure amid growing fears over the impact of a global economic slowdown on demand.

U.S. crude stocks rose last week, while gasoline and distillate inventories fell, the Energy Information Administration said.

Russian oil production averaged 1.542 million tonnes per day on March 1-26, a source familiar with energy ministry data told.

Hedge funds and other money managers have increased bets that demand for oil will be sustained, even as the market rallied last week.

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