Moneycontrol
Jan 13, 2017 02:59 PM IST IST | Source: Moneycontrol.com

Crude oil to trade in 3508-3696 range: Achiievers Equities

According to Achiievers Equities, Crude oil gained on reports key OPEC members were starting to cut production as promised and on forecasts of strong demand growth in China.

Achiievers Equities' report on Crude oil

Crude oil trading range for the day is 3508-3696.  

Crude oil gained on reports key OPEC members were starting to cut production as promised and on forecasts of strong demand growth in China.   

OPEC agreed in November to cut oil production to try to reduce a global supply glut that  has depressed prices for more than two years.  

OPEC member Iraq, said it had cut production by 160,000 barrels per day since the  beginning of January.  

BUY CRUDE OIL JAN @ 3590 SL 3550 TGT 3640-3690.MCX. 

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