Brent and West Texas Intermediate crude headed for this month’s first weekly increases as the Organization of Petroleum Exporting Countries considers cutting its production target next year. Futures were little changed in London and poised for a 0.6 percent increase this week. OPEC, supplier of about 40 percent of the world’s oil, may reduce its daily quota by 500,000 barrels to 29.5 million in 2015, Secretary-General Abdalla El-Badri said in Vienna on Sept. 16. Libya halted output from the Sharara field after an attack at the Zawiya plant. “The market appears to have formed a bit of a base,” Ric Spooner, a chief strategist at CMC Markets in Sydney, said by phone today. “We may also be getting close to a level where the market is a little nervous about taking more risk premium out of oil prices . There’s not a lot in there now and that leaves […]