MTECHTIPS;- Crude oil to trade in 3133-3275:

MTECHTIPS;- Crude oil to trade in 3133-3275:

MTECHTIPS-Crude oil trading range for the day is 3133-3275.
Crude oil dropped on lack of confirmation that OPEC will extend output cuts, while Russia indicated it can lift output. Russian output could climb to its highest rate in 30 years if producers do not extend a 6- month supply reduction deal beyond June 30. Sentiments remain weak on signs that rising US shale production offset efforts by OPEC to cut output by almost 1.8 Mbps in the first half of the year. SELL CRUDE OIL MAY 2017 @ 3180 SL 3220 TGT 3152-3115 .MCX.

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