Oil Rises After OPEC+ Hikes Output Less Than Expected
Oil prices rose more than 1% on Monday after OPEC+'s planned production increase for November was more modest than expected, tempering some concerns about supply additions, though a soft outlook for demand is likely to cap near-term gains.
Brent crude futures climbed 89 cents, or 1.4%, to $65.42 a barrel by 1107 GMT, while U.S. West Texas Intermediate crude was at $61.72, up 84 cents - also about 1.4%.
"The market was expecting a somewhat larger increase from OPEC+ as shown in the structure last week," said Janiv Shah, an analyst at Rystad...
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