WTI crude oil futures settle at $91.48

<p>WTI crude all future settle at $91.48. That's up $0.71 or 0.78% on the day.</p><ul><li>Prices initially rose due to a softer Dollar and stock recovery.</li><li>Bullish themes include Saudi/Russia production cuts and a recovering Chinese economy.</li></ul><p>Saudi Aramco CEO commented at the World Petroleum Congress saying.</p><ul><li>Forecasts of peak oil demand are "wilting under scrutiny".</li><li>He predicts world oil demand to rise to 103-104mln BPD in H2.</li></ul><ul><li>Meanwhile:</li></ul><ul><li>Chevron (CVX) CEO expects oil prices to reach USD 100/bbl.</li><li>He also sees a steady increase in oil demand.</li></ul><p><a href="https://www.forexlive.com/news/eia-sees-us-shale-oil-production-down-about-41k-bpd-in-october-20230918/" target="_blank" rel="follow">Adam points out</a> that:</p><ul><li>US drilling productivity is on the rise, but fewer rigs impact shale oil regions.</li><li>EIA predicts a production of 9.39 million bpd in October, a decrease of 41k bpd.</li><li>Declines are nearly equal between Permian and Eagle Ford regions.</li></ul>

This article was written by Greg Michalowski at www.forexlive.com.