Wednesday, 10 May 2017

EPIC RESEARCH MCX CRUDE OIL UPDATE OF 10 MAY 2017

Crude oil trading range for the day is 2910-3054.Crude oil dropped rattled by concern over slowing demand, a rising U.S. dollar and increasing U.S. crude output.U.S. crude production has risen by over 10 percent since mid-2016 to 9.3 million bpd, close to the output of top producers Russia and Saudi Arabia.Saudi Energy Minister Khalid Al-Falih: Saudi Arabia has made long term commitment to Asia. Want to play bigger role in meeting Asia demand.

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