Oil settles lower as investors brace for possible OPEC+ output hike

HOUSTON (Reuters) -Oil prices settled lower on Tuesday as investors braced for a supply surplus due to potential OPEC+ plans for a larger output hike next month and the resumption of oil exports from Iraq's Kurdistan region via Turkey. At its meeting next Sunday, OPEC+ may speed up production increases in November from the 137,000 barrels per day hike it made for October, as its leader Saudi Arabia pushes to regain market share, three sources familiar with the talks said. Eight members of OPEC+ could agree to raise production in November by 274,000-411,000 bpd, or two or three times higher than the October increase, two of the three sources said.