(1/2) Earlier, OPEC released its Monthly Oil....>

OIL: (1/2) Earlier, OPEC released its Monthly Oil Market Report for September.

- "Based on the current global oil supply/demand balance, OPEC crude in 2017 is

estimated at 32.7 mb/d, around 0.5 mb/d higher than 2016. Similarly, OPEC crude

in 2018 is estimated at 32.8 mb/d, about 0.2 mb/d higher than in 2017," the

report said.

- In a special section on Hurricane Harvey, OPEC noted that the negative effects

on the U.S. economy should be "relatively minor, as disruptions are expected to

be largely offset by the increase in activities related to the rebuilding

efforts including $15.25 billion in aid approved by Congress."

- The impact on U.S. oil demand "is expected to be negligible, with offsetting

revisions seen for 4Q17," the report said.