November Crude Oil Hits Record High

November light, sweet crude jumped $2.44 to settle at a record $86.13 a barrel on the New York Mercantile Exchange

November crude hit an intra day high of $86.22, an all time record.

OPEC stated on Monday that production among non-OPEC nations is declining, despite increasing demand.

OPEC expects 4th quarter production by non-OPEC countries to decline by 110,000 barrels.