Oil prices fell almost 4% early on Wednesday but recovered to trade up slightly at around $46 per barrel
The report comes as nations reassemble to discuss how to make good on their promises to cut planet-warming greenhouse gases following the entry into force last Friday of a worldwide pact to battle global warming
Clashes between the two Opec heavyweights, which are fighting proxy wars in Syria & Yemen, have become frequent in recent years
Oil, which rallied to a 2016 high near $54 a barrel following the decision, has since slipped towards $48
As its members are making progress in ironing out differences over how and when to manage production levels and, ultimately, oil prices
Japan's trade ministry on Monday releases official data showing its imports rose 80% from a year earlier to nearly 313,000 bpd in September
Only the representative of non-OPEC Azerbaijan made comments supportive of the need for producer action to help prop up prices
For an OPEC plan to reduce output one day after OPEC members were unable to agreed on how to implement the deal
The deal faces potential setbacks from Iraq's call for it to be exempt and from countries
Similar to Russia, low oil price impacts budget of all Opec countries
The goal is to cut production to a range of 32.50-33.0 million barrels per day
Russian officials emphasise the nation's ability to keep increasing record output to even loftier heights
Oil retreats after Opec reports output at 8-year high
OPEC declined to cut output 2 years ago after oil breached $100 a barrel, instead letting the biggest oil market collapse in a generation happen as the price plunged
OPEC's oil output is likely to reach 33.60 million bpd in September from a revised 33.53 million bpd in August
New Delhi must anticipate effects of higher oil prices
Even if the countries follow the discipline of cutting production, oil market has expanded well beyond OPEC's control
Analysts believed a cut in OPEC production would have little effect if non-OPEC output continued to surge
Saudi Energy Minister Khalid al-Falih said on Tuesday Iran, Nigeria and Libya would be allowed to produce at maximum levels that make sense
Oil prices have more than halved from 2014 levels due to oversupply, prompting OPEC producers and rival Russia to seek a market rebalancing