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.
