Oil fell for a second straight day on Tuesday as traders looked beyond price defense attempts by Russia and Venezuela and toward Saudi Arabia and OPEC for fresh leads on whether the group will cut output when it meets later this month. Saudi Arabia, the most powerful member of the Organization of the Petroleum Exporting Countries and the world’s No. 1 oil exporter, raised crude shipments in September, data showed on Tuesday, despite signs of an oversupplied market. Benchmark Brent crude settled down 84 cents at $78.47 a barrel, after falling as low as $78.21. Brent fell in six of the past seven sessions, touching four-year lows of $76.76 on Friday. Front-month U.S. crude ended down $1.03 at $74.61 after an intraday bottom of $74.23. U.S. crude hit a September 2010 low of $76.30 on Friday. After settlement, U.S. crude slipped about another […]