EPIC RESEARCH MCX CRUDE OIL UPDATE OF 9 JANUARY 2017

Crudeoil trading range for the day is 3607-3737. Crude oil gained as output cuts by OPEC members met with lingering concern that other producers could try to shirk their share of planned decreases. Production cuts by OPEC kingpin Saudi Arabia and signs that it plans further trims have helped buoy the market. The Kingdom cut oil output in January by at least 486,000 bpd to 10.058 million bpd, fully implementing an agreement by OPEC.

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