According to Achiievers Equities, Crude oil surged more than 3% as OPEC vowed to re-balance oil markets even if it takes supply quotas through 2018.
Achiievers Equities' commodity report on Crude oil
Crudeoil trading range for the day is 2966-3160.
Crude oil surged more than 3% as OPEC vowed to re-balance oil markets even if it takes supply quotas through 2018.
Saudi announced it would cut August exports to 6.6mbpd, while Nigeria will be compelled to join the supply quota plan.
China's crude imports will exceed 400 million tons (8 million bpd) this year and likely grow by double digits next year.BUY CRUDEOIL AUG 2017 @ 3070 SL 3040 TGT 3105-3135.MCX.
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