EPIC RESEARCH MCX CRUDE OIL UPDATE OF 12 FEBRUARY 2018

Crudeoil trading range for the day is 3716-3966.Crude oil dropped as record-high U.S. crude output added to concerns about a sharp rise in global supplies. U.S. domestic crude production hit a record of 10.25 million barrels per day (bpd) for the most recent week, according to the U.S. EIA said.OPEC member Iran also announced plans to increase production within the next four years by at least 700,000 barrels a day.



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