EPIC RESEARCH MCX CRUDE OIL UPDATE OF 12 MAY 2017

Crudeoil trading range for the day is 3044-3134. Crude oil gained as a fall in U.S. fuel inventories and a bigger than expected cut in Saudi supplies to Asia tightened the market. Saudi Arabia has notified several Asian refiners of its first cuts in crude allocations for regional buyers since OPEC's output reduction took effect in January. Saudi Energy Minister Khalid Al-Falih says almost all oil demand growth in next 25 years to come from Asia.

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