Ahmad writes that OPEC Secretary General Mohammed Barkindo has surprised many ahead of the upcoming OPEC meeting on November 30 in Vienna, by calling on US shale producers to join forces with OPEC in its ongoing battle to reduce the persistent oversupply of oil in the market.
OPEC and other producers, including Russian Federation, agreed to cut output by 1.8 million barrels per day (bpd).
Brent crude futures, the global benchmark for oil prices, were up 6 cents, or 0.1 percent, at $55.85 a barrel.
OPEC said the world would need 33.06 million barrels per day (bpd) of its crude next year, up 230,000 bpd from its previous forecast.
"With the market moving into the winter season, distillate fuel supplies are notably tight, representing a change from the excess supplies seen in the last two years", OPEC said.
Prices drew support when the International Monetary Fund projected global economic growth of 3.6 percent this year and 3.7 percent for 2018, indicating fuel demand would rise. Last year, average USA oil production was 8.9 million bpd, lower than the 2015 level of 9.4 million bpd.
The report also cited headwinds in 2018 for an expansion of supplies in USA shale, such as lower drilling efficiency and cost inflation.
Barkindo said the effort in part helped the energy sector emerge from the "most vicious of all oil cycles", with oil prices tanking below $30 per barrel a year ago on oversupply concerns.
Opec said it pumped 32.75 million bpd in September, up about 89,000 bpd from August.
Oil prices have been rising since the end of summer, but remain well below their 2014 level.
Increasing demand for oil will be matched by added supplies, but Opec's forecasts for the balance of supply and demand foresee a greater reliance on the cartel's output.
USA output was curtailed during last year's market downturn, though shale oil production in general has been more resilient to lower crude oil prices than anticipated.
Haworth said the market and OPEC are "hoping U.S. producers slow down production and make further progress on inventory cuts".
The report's OPEC production figures mean compliance with the supply cut by the 11 members with output targets remains high at 98 percent, according to a Reuters calculation.