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CRUDE OIL OUTLOOK 26.05.20

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India's crude oil processing in April slumped by 28.8 percent from a year earlier, its biggest drop since at least 2003, as a nationwide lockdown weighed on fuel demand and forced refiners to cut production.

Refiners processed about 14.75 million tonnes or 3.60 million barrels per day (bpd) of oil last month, government data showed.

The lockdown and travel curbs aimed at stemming the spread of COVID-19 since March 25 forced people to stay home, cutting India's fuel demand by 45.8 percent in April.

IMPORTANT LEVELS FOR 26/05/2020

RESISTANCE 1 – 2603
RESISTANCE 2 – 2630
RESISTANCE 3 – 2654

SUPPORT 1 – 2534
SUPPORT 2 – 2505
SUPPORT 3 – 2484

Thanks!

ProCapitas Market-Pro Team

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