EPIC RESEARCH MCX CRUDE OIL UPDATE OF 09 FEBRUARY 2018

Crudeoil trading range for the day is 3863-4023. Crude oil dropped after Iran announced plans to boost production and U.S. crude output hit record highs.Data showed U.S. oil production topped the 10 million barrels per day (bpd) mark last week. Domestic oil production, driven by shale extraction, rose 3.3% to an all-time high of 10.25 million bpd, the U.S. Energy Information Administration said.

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