EPIC RESEARCH MCX CRUDE OIL UPDATE OF 29 SEPTEMBER 2016

Crude oil trading range for the day is 2924-3138. Crude surged to settled up amid speculation that OPEC will soon agree to curb production. OPEC agreed to production curbs under a formula to cut output to a range of 32.5mbls to 33mbpd from 33.4mbls. EIA showed crude inventories fell by 1.9mbls in the week to Sept. 23, while Gasoline stocks rose by 2mbls.
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