Oil climbs back above $46.00/bbl

Oil prices staged a decent comeback during the American session, with WTI back above $46.00 a barrel as the greenback lost steam across the board.

West Texas Intermediate crude oil for October rose 1.10% to $46.39 a barrel, having hit a daily high of $46.51 and a low of $44.73.

Earlier on the day, oil prices fell after OPEC said that production from non-OPEC producers has proven to be stronger than expected this year. OPEC expects non-OPEC production will fall by about 610,000 barrels a day this year, 180,000 barrels a day less than previously forecast.