Oil prices rose again on Tuesday following an “OPEC+” production increase that was smaller than expected, easing fears of oversupply.
Brent crude futures rose 23 cents or 0.35% to $65.70 per barrel, while U.S. West Texas Intermediate (WTI) crude rose 21 cents or 0.34% to $61.90 per barrel. Both benchmarks had increased by over 1% at the previous session’s close after OPEC+, which includes OPEC, Russia, and some smaller producers, decided to raise oil output by 137,000 barrels per day starting November.
