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The Organisation of the Petroleum Exporting Countries has boosted October supplies by 500,000 barrels per day in anticipation of November 1, when an agreement to raise production kicks in, according to tanker tracker Petrologistics.

The 10 OPEC members subject to output limits, all except Iraq and Angola, are set to pump 27.5 million barrels per day, up 300,000 bpd on September, led by kingpin Saudi Arabia.

Overall output is set to rise 500,000 bpd to 31.4 million.

"The market is still overheated from its rally and could go down to around $80. But depending on what the U.S. stocks do and if the dollar weakens again, the market could go up to $90," said Gerard Rigby from Fuel First Consulting in Sydney.

Top consumer the United States will release weekly oil stocks data on Wednesday.

U.S. crude oil stocks are seen up 100,000 barrels, after a 1.8 million-barrel build in the week ended October 12. A Reuters poll also forecast a 1.1 million-barrel increase in gasoline stocks but a 300,000-barrel draw on distillates for the week to October 19.

(Additional reporting by Annika Breidthardt, Janet McBride)