Oil halted its decline after falling the most in six weeks as signs of rising demand in China countered an increase in OPEC production. Futures climbed as much as 1.3 percent in New York after Monday’s 5.1 percent drop. China’s crude purchases rebounded in September from a three-month low even as total imports extended a slump. Global oil consumption is expanding while non-OPEC nations will supply less, according to Abdalla Salem El-Badri, the secretary-general of the Organization of Petroleum Exporting Countries. Oil advanced above $50 a barrel last week for the first time since July but has failed to sustain gains amid speculation the market could remain oversupplied. China’s economic slowdown is still impacting on global growth amid this year’s plunge in commodity prices. OPEC raised its production to the highest level since 2012 as it predicted stronger demand for its crude. “Any rally in oil is going to […]