Saudi Arabia, other OPEC states and non-OPEC allies aim to stick to a global pact on cutting oil supplies until the end of 2018 but are ready to make gradual adjustments to offset any supply shortage
Crude oil prices witnessed pull back sharply in today’s session neglecting concerns over possible increases in output by OPEC and Russia. Traders now turn their attention to Crude inventories are scheduled to release tomorrow at 8:30 PM IST .
Mcx June CMP 4603 we expect prices to remain firm till prices manage to trade 4550 with price objective of 4660.Natural gas prices fell marginally as weather forecasting models continued to predict that milder temperatures limiting demand for the fuel.
Oil climbed towards $76 a barrel on Wednesday, supported by tight supplies despite expectations OPEC and its allies will pump more in the second half of 2018 and helped by forecasts U.S. inventories fell.
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