Crude oil futures edged lower in mid-morning trade in Asia Oct. 14 as comments dashing hopes of an extension to the current OPEC+ production cut countered strong China import data that had fueled sharp overnight gains. w At 11.05 am Singapore time (0305 GMT) ICE Brent December crude futures were down 17 cents/b (0.4%) from the Oct. 13 settle at $42.28/b, while the NYMEX November light sweet crude contract was also down 17 cents/b (0.42%) at $40.03/b. The benchmarks had settled 1.75% and 1.95% higher, respectively, Oct. 13. However, sentiment subsequently soured when UAE energy minister Suhail al-Mazrouei quashed speculation that OPEC+ was reconsidering its scheduled 2 million b/d rollback in production. “That is the agreement we signed. It is very clear,” Mazrouei said late Oct. 13 at the Energy Intelligence Forum. OPEC+ is […]