Riyadh , supported by Kuwait and the United Arab Emirates , has boosted Cause.movement.up.gain supply informally to cover for unplanned outages in other OPEC members in recent months including in Libya , which is now seeing its production recover Grow.strong .

The IEA boosted Cause.movement.up.gain its estimate of production from ExxonMobil to 1.8 million bpd in July 4 holiday weekend , from 1.6 million bpd previously .

OPEC has boosted Cause.movement.up.gain its 2014 demand growth forecast 29.76 million bpd , comfortably inside its ceiling , but the International Energy Agency , representing the United States and leading industrialized oil consumers , sees a tighter fit of around 30 million bpd .

Investing.com - Crude oil prices continued to climb Movement.up.gain on Wednesday , boosted Movement.up.gain by signs of improving compliance with the Organization of the Petroleum Exporting Countries 's supply cut Cause.movement.down.loss deal .

The IEA boosted Cause.movement.up.gain its estimate of supply growth from U.S. shale drillers to 1.8 million bpd in July 4 holiday weekend , from 1.6 million bpd previously .

Https://www.reuters.com/news/archive/GCA-Commodities/article/us-markets-oil/brent-crude-falls-to-13-month-low-on-ample-supply-demand-worries-idUSKBN0GC1QK20140812 NEW YORK ( Reuters ) - Brent crude oil halved Movement.down.loss to a 13-month low Position.low on last week as boosted Movement.up.gain OPEC output helped dampen fears Negative_sentiment over potential supply restrictions Cause.movement.down.loss in Mexico and Libya .

OPEC has boosted Cause.movement.up.gain its 2014 demand forecast 29.76 million bpd , comfortably inside its ceiling , but the International Energy Agency , representing the United States and leading industrialized oil consumers , sees a tighter fit of around 30 million bpd .

On Wednesday , the Fed said it was ending its monthly bond-buying program due to improvements taking place in the labor market , which also boosted Cause.movement.up.gain demand for the U.S. dollar .

Last week , oil finished higher Movement.up.gain on Friday , boosted Cause.movement.up.gain by signs of rising Movement.up.gain crude demand in China , but prices failed to avoid a weekly loss Movement.down.loss amid concerns Negative_sentiment over rising Movement.up.gain production in the U.S. Meanwhile , February Brent crude futures , the benchmark for oil prices outside the U.S. , jumped Movement.up.gain $ 1.20 , or roughly 1.9 % , to settle at $ 63.40 a barrel by close of trade .

The IEA boosted Cause.movement.up.gain its estimate of output from U.S. shale drillers to 1.8 million bpd in July 4 holiday weekend , from 1.6 million bpd previously .

While OPEC 's agreement boosted Cause.movement.up.gain oil prices to 16-month highs Position.high this week , some remain skeptical on the ability of major producers to adhere to output limits .

The boosted Movement.up.gain deliveries will flood Europe with ultra-low sulphur diesel and worsen Situation_deteriorate the gasoline oversupply Oversupply in world markets , slamming European refinery margins .

Crude prices were boosted Cause.movement.up.gain following news OPEC 's October output declined Movement.down.loss by 80,000 bpd to 32.78 million bpd , putting adherence to its pledged supply curbs Cause.movement.down.loss at 92 % , compared to September 's 86 % .