OIL PRICES

Oil prices edged higher mid-month as the Opec+ cartel reached an agreement to delay a planned increase in production by two months.

Crude prices had slumped to their lowest in nine months earlier on expectations that Opec+ would increase output from October.

The producers cartel will now raise production in December by 180,000 barrels a day.

The price of crude oil has been falling over concerns about a weak global economy and soft data from China, the world’s biggest oil importer.

Brent crude edged up just over $74 a barrel.