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EPIC RESEARCH MCX CRUDE OIL UPDATE OF 28 OCTOBER 2016


Crude oil trading range for the day is 3260-3400.
Crude oil prices gained as a further Drop in U.S. crude inventories countered investor doubts that OPEC will be able to implement a production cut.
Saudi Arabia and its Gulf OPEC allies are willing to cut 4 percent from their peak oil output, energy ministers from the Gulf countries told.
Crude inventories posted an unexpected drop of 553,000 barrels last week, and stocks of gasoline and distillates fell more than expected.
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EPIC RESEARCH MCX CRUDE OIL UPDATE OF 28 OCTOBER 2016

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