EPIC RESEARCH MCX CRUDE OIL UPDATE OF 04 MAY 2017

Crude oil trading range for the day is 3012-3132.Crude oil prices dropped after data showed a lower than expected decline in U.S. Inventories.U.S. crude stockpiles fell less than expected last week, while gasoline inventories grew as demand remained weak, the Energy Information Administration said.OPEC and several other key producers including Russia have agreed to cut output by 1.8 mbpd for the first half of 2017 to try to reduce a global glut.

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