WTI & Brent print ~$0.50 above their............>

OIL: WTI & Brent print ~$0.50 above their respective settlement levels at

writing, with the uptick in equity metrics helping to support the crude space

after Monday's sell off.

- Monday saw OPEC Sec Gen Barkindo & various Saudi officials point to Saudi

production being restored to levels seen before the recent high-profile attacks

on Aramco facilities. Elsewhere, the latest RTRS survey suggested that OPEC oil

output fell to an eight-year low in September, with the aforementioned attacks

on Saudi facilities adding to the impact of the OPEC+ production pact and U.S.

sanctions vs. Iran & Venezuela. Also on the supply front, the EIA noted that

U.S. crude oil output fell by 276K bpd in July, to 11.81mn bpd. This represented

a third monthly decline from the record production levels seen in April.

Meanwhile, Russia revealed that it reduced its avg. oil output by 200K bpd in

Sep (vs. the Oct '18 baseline), a little below the 228K bpd requirement bestowed

upon it under the OPEC+ pact.

- Weekly API inventory data will draw attention later today.