Crude oil trading range for the day is 3369-3447. Crude dropped despite bullish Chinese economic data, as investors weighed the impact of a ramp-up in U.S. oil production. Barker Hughes reported its weekly U.S. rig count rose by 11 to 683, it was the thirteenth straight weekly increase Traders look ahead to OPECs next meeting, scheduled for May 25; it is widely expected that OPEC will announce the cut global oil supply.

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