CRUDE OIL:- CONSOLIDATE STRATEGY BUY ON DIPS R2-5880 R1-5800 S1-5680 S2-5600
Crude oil fell after bearish U.S. inventory report offset otherwise bullish news that the OPEC oil cartel is planning to trim output.
OPEC may not need to cut its oil output target at a meeting in November, a Gulf OPEC delegate and other OPEC sources said.
The U.S. Energy Information Administration said in its weekly report that U.S. crude oil inventories increased by 3.7 million barrels.
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