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Crude Oil Updates for 26 Dec 2016

Crude Oil Updates for 26 Dec 2016

Crudeoil trading range for the day is 3532-3642.Crude oil traded in the range as the market waits to see how OPEC manages its planned output cuts with Libya expecting to boost production. Major OPEC producers including Saudi Arabia and Iraq have told customers that supply will be cut in line with the OPEC deal. Libyas National Oil Corp hopes to add 270,000 bpd to national production over the next three months.

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