EPIC RESEARCH MCX CRUDE OIL UPDATE OF 26 MAY 2017

Crudeoil trading range for the day is 3037-3435.Crude oil dropped as the extension of output curbs by OPEC and other producing countries disappointed investors who had hoped for larger cuts.OPEC and some non-OPEC producers agreed to extend a pledge to cut around 1.8 million barrels per day (bpd) until the end of the first quarter of 2018.OPEC and non-members led by Russia decided to extend cuts in oil output by nine months to March 2018 as they battle a global glut of crude.

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