Production capacity in the Organization of Petroleum Exporting Countries will climb almost 800,000 barrels a day in 2012, led by the return of Libyan fields, Morgan Stanley analysts led by New York-based Hussein Allidina said in a report Wednesday. Non-OPEC output will rise 225,000 barrels.

Slowing global economic growth will result in reducing demand growth, the analysts said. Consumption will advance 600,000 barrels a day in 2012, down from a 950,000 gain this year and 2.7 million barrel advance in 2010.

Brent oil for November settlement fell $3.33, or 3.1 percent, to end the session at $103.81 a barrel on the London- based ICE Futures Europe exchange Wednesday.