Crude oil futures settled lower on Monday, amid signs of an uptick in crude output as data showed Opec oil output rose last month. As per the report Organization of the Petroleum Exporting Countries output rose by 50,000 barrels a day in September as the cartel’s overall compliance with its production-cut agreement fell to 86%. Production in Libya rebounded 30,000 barrels a day to 920,000 barrels in September as the Sharara field restarted after a halt of more than two weeks while Nigerian output increased by 20,000 barrels to 1.77 million barrels a day.

Benchmark crude oil futures for November delivery ended lower by $1.59 or 1.1 percent at $50.58 a barrel on the New York Mercantile Exchange. Brent crude for November delivery lost 0.69 cents to $56.10 a barrel on the ICE.

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