EPIC RESEARCH MCX CRUDE OIL UPDATE OF 11 JANUARY 2017

Crudeoil trading range for the day is 3454-3604. Crude oil dropped as market players looked ahead to weekly data from the U.S. on stockpiles of crude and refined products. API said late Tuesday that crude oil stocks rose 1.5 million barrels last week, above a forecast of a 900,000 barrels build. EIA expects U.S. crude oil production in 2018 to rise by 300,000bpd yoy, according to its monthly short term energy outlook released .

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