Oil hits lowest in a year, even as OPEC considers output cut

LONDON (Reuters) - Oil fell to its lowest level in more than a year on Friday on continued concerns about a rising global surplus, even as producers considered cutting output to curb supply.Prices were on course for their biggest one-month decline since late 2014.Oil supply, led by U.S. producers, is growing more quickly than demand and to prevent a build-up of unused fuel such as the one that emerged in 2015, the Organisation of the Petroleum Exporting Countries is expected to start trimming..