US stock market opens lower

NEW YORK (AA) - The U.S. stock market opened lower Tuesday as oil prices began falling again.

The Dow lost 64 points to begin the day at 18,264 points. The S&P 500 was down eight points to 2,155 and the Nasdaq fell 16 points to 5,312.

OPEC's oil production rose 160,000 barrels per day (bpd) in September from the previous month to reach 33.6 million barrels, according to the International Energy Agency's Monthly Oil Market Report released earlier Tuesday.

With higher monthly oil output, investors are worried that the glut of oil supply is expected to stay in the global market for some time if OPEC does not take action, analysts said.

The cartel decided September in an unofficial meeting in Algeria to limit its monthly oil quota to 32.5 to 33 million bpd range.

The decision is not to be implemented until OPEC's official meeting at the end of October. However, the cartel's ministers are expected to continue talks on Wednesday at the 23rd World Energy Congress in Istanbul.