EPIC RESEARCH MCX CRUDE OIL UPDATE OF 17 JULY 2017

Crudeoil trading range for the day is 2927-3041. Crude oil gains boosted by lower U.S. stockpiles, a slight slowdown in U.S. crude production and signs of increased Chinese demand. Prices also seen supported boosted by a report from the IEA that demand growth is accelerating and from the U.S. EIA that oil stocks had fallen. U.S. oil production C-OUT-T-EIA has also risen by more than 10 percent over the past year to 9.4 million bpd.

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