Mcx Full Independent Trading Guide

UPDATE 4-Oil prices drop on rising US crude supply, but OPEC cuts support * U.S. crude inventories climb, output still at record * But OPEC cuts, Venezuela crisis tighten market * U.S. oil output, drilling & storage (Adds German industrial data, updates prices) SINGAPORE, Feb 7  - Oil prices fell on Thursday after U.S. crude inventories rose and the country's production held at record levels, but OPEC-led supply cuts and Washington's sanctions against Venezuela supported markets. U.S. West Texas Intermediate (WTI) crude futures   were at $53.66 per barrel at 0744 GMT, down 35 cents, or 0.7 percent, from their last settlement.International Brent crude oil futures fell 39 cents, or 0.6 percent, to $62.30 per barrel.U.S. crude oil inventories C-STK-T-EIA climbed by 1.3 million barrels in the week that ended Feb. 1 to 447.21 million barrels, data from the Energy Information Administration (EIA) showed on Wednesday.Meanwhile, average weekly U.S. crude oil production remai

How OPEC Is Helping U.S. Oil Reach a Tipping Point  The U.S. Energy Information Administration has published its first detailed monthly oil forecast for 2020 and it shows something that should strike fear into the hearts of OPEC ministers — from the fourth quarter, America will export more oil than it imports. This won’t make the U.S. independent of the global supply chain. It doesn’t mean that it will stop shipping in crude from the Middle East and Latin America, or bringing refined products from Europe and Asia. But it does show that the transformation of the country’s oil sector through the extraction of crude held in shale rocks is not yet over. Some of the thanks should go the OPEC ministers who have helped make it possible.The transformation is profound and will mean that members of the OPEC+ group are likely to have to keep restricting their own output for much longer than they are currently planning if they are to avoid global inventories soaring again. By December 2020,