Wednesday, 14 June 2017

EPIC RESEARCH MCX CRUDE OIL UPDATE OF 14 JUNE 2017

Crude oil trading range for the day is 2915-3031..Crude oil prices fell after data showed a build in U.S. crude stocks and OPEC reported a rise in its production despite its pledge to cut back.
Data from the American Petroleum Institute showed that U.S. crude stocks rose by 2.8 million barrels in the week to June 9 to 511.4 million.Saudi Arabia, is leading an effort by the Organization of the OPEC to cut production by almost 1.8 mbpd until the end of the first quarter of 2018.

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