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Global markets: OPEC expects bigger carryout in 2017

By Commodity News Service Canada

WINNIPEG, October 12 – The following is a glance at the news moving markets globally.

OPEC OIL PRODUCTION RISES IN SEPTEMBER
OPEC production of crude oil increased to an eight-year-high in September, an OPEC (Organization of the Petroleum Exporting Countries) report said.

The organization also expects non-OPEC next year’s supplies to reach higher than previously thought levels.

EURO ZONE INDUSTRIAL PRODUCTION UP AUGUST
The euro zone’s industrial production increased in August, bouncing back from declines in July, according to reports out of the region on Wednesday.

Industrial production rose by 1.6 per cent on the month, and increased 1.8 per cent from year-ago levels.

PERU TO INCREASE AG EXPORTS TO COLOMBIA
Peru will be increasing its agricultural exports to Colombia following a meeting between officials from both countries, market watchers say.

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