According to Achiievers Equities, Crude oil edged higher amid ongoing signs that major oil producers are sticking to their pledge to cut back output.
Achiievers Equities' report on Crude oil
Crude oil trading range for the day is 3579-3691.
Crude oil edged higher amid ongoing signs that major oil producers are sticking to their pledge to cut back output.
Saudi Arabia's oil output is likely to drop to around 9.9 million bpd in January, according to industry sources and shipping data.
U.S. crude stocks rose 2.9 million barrels more than the 2.8 million barrels build expected, estimates from the American Petroleum Institute (API) showed.
BUY CRUDE FEB @ 3610 SL 3570 TGT 3656-3690.MCX.
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First Published on Jan 25, 2017 12:12 pm