Wednesday, 4 January 2017

EPIC RESEARCH MCX CRUDE OIL UPDATE OF 4 JANUARY 2017

Crudeoil trading range for the day is 3413-3869. Crude oil slid more than 2 percent knocked off 18-month highs as the U.S. dollar rallied to its highest level since 2002 and traders took profits. Investors will be watching OPEC very closely to see whether the group's members keep their promises to reduce production. Libya, one of two OPEC countries exempt from the output cuts, has increased its production to 685,000 bpd, from around 600,000 bpd in December.

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