EPIC RESEARCH MCX CRUDE OIL UPDATE OF 17 FEBRUARY 2017

Crudeoil trading range for the day is 3509-3635. Crude oil rose after OPEC sources said the group could extend its oil supply-reduction pact with non-members and might even apply deeper cuts. OPEC and other exporters including Russia agreed last year to cut output by 1.8 million barrels per day (bpd) to reduce a price-sapping glut. Global inventories are bloated and supplies high, especially in the United States.

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