Oil Prices Fall Back Despite OPEC+ Decision To Pause Output Hike

Crude futures have fallen to their lowest level this year, as concerns about weak global demand, including top oil importer China, coincided with a possible production boost by OPEC+ in October. November Brent fell $4.91/bbl w/w to settle at $73.75 per barrel (bbl) on September 4 to a YTD-low of $72.63/bbl while WTI also set a YTD-low, falling to $69.19/bbl. "The fact that recent data shows no signs of any acceleration in import demand in China, Europe or North America points to a situation where the oil market is not going to be as tight as expected…