EPIC RESEARCH MCX CRUDE OIL UPDATE OF 31 JANUARY 2018

Crudeoil trading range for the day is 4056-4178.Crude oil dropped as rising U.S. output and a strengthening dollar sapped demand for crude.Russia produced 10.94 million barrels of oil per day (bpd) on average between Jan. 1 and Jan. 28, or 1.493 million tonnes. U.S. output has jumped more than 17 percent since mid-2016 and is expected to exceed 10 million bpd soon.

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