Oil output from OPEC countries is at the highest levels since Sept 2008, according a Reuters monthly survey. Saudi Arabia increased production despite a slide in prices while upcoming Iranian sanctions have yet to curb output.

WTI crude is up 28-cents to $91.14/barrel today. A series of higher lows and higher highs on the hourly chart since the dip below $90 last week suggests some support for a move up to $93.25.