EPIC RESEARCH MCX CRUDE OIL UPDATE OF 05 MAY 2017

Crudeoil trading range for the day is 2823-3133. Crude oil ended with losses on supply glut concerns as official data showed U.S. crude stocks fell less than expected. Rising U.S. production and stubbornly high inventories remain key drivers of the oil price. Iraqi fuel oil exports have soared since January despite a reduction in the country's crude production in line with OPEC supply cuts, industry sources said.

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