Crudeoil trading range for the day is 3341-3579. Crude oil dropped as crude output rose in virtually every major export region despite plans by OPEC and Russia to cut production. The balance of supply and demand in global oil markets may soon change as a result of OPEC's decision to cut production, IEA chief Fatih Birol said. OPEC's oil output set another record high in November, rising to 34.19 million barrels per day (bpd) from 33.82 million bpd in October.
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