Brent crude traded near the lowest closing level in four days as an official gauge from China showed factory output slowed in the world’s second-largest oil consumer. West Texas Intermediate was steady in New York . Futures were little changed in London after declining as much as 0.8 percent. China’s Purchasing Managers ’ Index was at 50.8 for October, government data showed on Nov. 1, trailing the median estimate of 51.2 in a Bloomberg News survey and below September’s reading of 51.1. Saudi Arabia is set to announce crude-export prices for next month after applying the biggest discount in almost six years for some November shipments to Asia . OPEC output rose to a 14-month high in October, according to Bloomberg estimates. “When oil breaks out of this range it will be to the downside, unless there is a surprising entente cordiale among OPEC members,” Christopher Bellew , senior […]