EPIC RESEARCH MCX CRUDEOIL UPDATE OF 09 Nov 2016

Crudeoil trading range for the day is 2937-3059. Crude oil gained supported by a rebound in other asset classes after news that U.S. presidential candidate Hillary Clinton will not face charges. OPEC’s Secretary-General Mohammed Barkindo reiterated the cartel's commitment to a deal to cut output made in Algiers late September. OPEC has also sought cooperation from non-member producers, including Russia, but many doubt its ability to coordinate a cut sufficient to balance the market.
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