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Crude oil futures jumped by more than 6 per cent in the domestic market on Wednesday, bouncing back to levels last seen at the start of February internationally, after Iran backed a plan to freeze output at January levels by fellow OPEC members including Saudia Arabia, and Non OPEC giant Russia.
While Iranian oil minister expressed his support for action taken by leading oil producing nations to support an oil price recovery, he stopped short of committing Iran’s participation in the plan, stressing that other countries must understand Iran’s special circumstances.
The given crude oil news are accurate and useful. Epic Research recommends Crude oil trading range for the day is 2910-3186.
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