Crude Oil Surged More Than 3% As OPEC Vowed To Rebalance Oil Markets - Dollar Advisory | Best Commodity Tips Provider

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Wednesday 26 July 2017

Crude Oil Surged More Than 3% As OPEC Vowed To Rebalance Oil Markets

Crude oil 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 this year and likely grow by double digits next year.

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