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OPEC pumped at the second-highest level this year in September, raises oil demand forecast again

October 11, 2017

OPEC’s production hit the second highest monthly level this year in September, returning to growth after the oil cartel’s output fell for the first time in five months in August.

On a more bullish note, the producer group on Wednesday raised its forecast for world oil consumption in 2017 and 2018 for a third-straight month. The improved demand outlook from both OPEC and the International Energy Agency last month underpinned the oil market rally in September.

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