Thursday, 1 June 2017

EPIC RESEARCH MCX CRUDE OIL UPDATE OF 1 JUNE 2017

Crudeoil trading range for the day is 3083-3285.Crude oil settled higher on short covering after dropped in previous session after investor disappointment that OPEC curbs did not go far enoughThe OPEC-led decision to extend a production cut to March 2018 disappointed financial investors, prompting an exit from oil futures markets.OPEC and some non-OPEC producers extended a pledge to cut 1.8 million barrels per day (bpd) of output until the end of the first quarter of 2018.

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