Tuesday, 22 November 2016

DOLLAR ADVISORY MCX CRUDE OIL UPDATE OF 22 Nov 2016


Crude oil trading range for the day is 3107-3425.
Crude oil prices rose as producer cartel OPEC moved closer to an output cut to rein oversupply that has kept prices low for over two years.
Markets were being supported by advancing plans by OPEC to cut production in a bid to prop up the market following over two years of low prices.
Such a deal has proved tricky to agree as some producers, most notably Iran, have been reluctant to cut output. 
 
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Crudeoil trading range for the day is 3107-3425.
Crude oil prices rose as producer cartel OPEC moved closer to an output cut to rein oversupply that has kept prices low for over two years.
Markets were being supported by advancing plans by OPEC to cut production in a bid to prop up the market following over two years of low prices.
Such a deal has proved tricky to agree as some producers, most notably Iran, have been reluctant to cut output. - See more at: http://investmentguruindia.com/CommoditiesReports/Crudeoil-trading-range-for-the-day-is-3107-3425---Kedia#sthash.cn8dxXVV.dpuf

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