Oil settled lower on reports of higher OPEC oil outputs in September

International benchmarks for crude oil concluded a choppy trading session on Friday, 30 September 2022 following reports that OPEC oil output rose 210,000 barrels per day from August – larger than the initial commitment of 100,000 barrels per day. At 29.81 barrels per day – this is the highest level of production since 2020.

Brent dropped 53 cents to close at $87.96/barrel. 

WTI fell $1.74 to close at $79.49/barrel.