Light, sweet crude for December delivery settled down 9 cents, or 0.2%, at $43.32 a barrel on the New York Mercantile Exchange, the lowest settlement since Sept. 19. U.S. oil fell as low as $42.20 a barrel, the lowest intraday price since mid-August, before a rebound throughout the afternoon. Brent, the global benchmark, fell 32 cents, or 0.7%, to $44.43 a barrel, its lowest settlement since Aug. 10.

Средняя цена на нефть Urals за период мониторинга с 15 октября по 14 ноября 2016 года составила $44,98619 за баррель, или $328,4 за тонну.

Brent crude futures LCOc1 were down 2 cents on the day at $44.73 a barrel by 1005 GMT (5:05 a.m. ET), while NYMEX crude futures CLc1 were down 6 cents at $43.35 a barrel.

The downturn produced a leaner, more efficient U.S. shale industry that was forced to develop and quickly adapt new technology to compete with conventional oil supplies during a two-year period of depressed prices.

ConocoPhillips plans conservative financial and operating programs in 2017, planning for a longer-than-expected $50/b oil world by reducing its capital budget 4%, growing production up to 2% and forging technologies to squeeze out the last smidgen of resource from existing assets.

International Brent crude oil futures LCOc1 were trading at $45.77 per barrel at 0743 GMT (2:43 a.m. ET), down 7 cents from their last close. U.S. West Texas Intermediate (WTI) crude oil futures CLc1 were trading down 10 cents at $44.56 per barrel, weighed down by weakening U.S. demand.

Russian Energy Minister Alexander Novak said on Thursday global crude oil output could be frozen at November levels if the world's leading oil producers reach an agreement on Nov. 30.

At 3:30 pm Singapore time (0739 GMT), January ICE Brent crude futures were down 64 cents/b (1.39%) from Tuesday's settle at $45.40/b, while the NYMEX December light sweet crude contract fell 59 cents/b (1.31%) to $44.39/b.

EIA expects Brent crude oil prices will average close to $48/ barrel (b) in the fourth quarter of 2016 and in the first quarter of 2017. Forecast Brent prices average $43/b in 2016 and $51/b in 2017. West Texas Intermediate (WTI) crude oil prices are forecast to average about $1/b less than Brent prices in 2017. The values of futures and options contracts indicate significant uncertainty in the price outlook, with NYMEX contract values for February 2017 delivery traded during the five-day period ending November 3 suggesting that a range from $35/b to $66/b encompasses the market expectation of WTI prices in February 2017 at the 95% confidence level.

Средняя цена нефти марки Urals по итогам января-октября 2016 года составила $ 40,72 за баррель.