Tuesday, 27 June 2017

EPIC RESEARCH MCX CRUDE OIL UPDATE OF 27 JUNE 2017

Crudeoil trading range for the day is 2735-2845. Crude oil edged up but investor sentiment remained largely negative amid fears that rising U.S. production would derail OPEC and its allies’ efforts to rein in the glut in supply. U.S. shale oil output is up around 10 percent since last year, while places like Brazil have also hiked output. The rise in supplies threatens to scupper efforts by the OPEC and its partners to reduce global oil inventories with production cuts.

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