Oil prices rose over 1.5% on Monday, after the Organization of the Petroleum Exporting Countries and its partners (OPEC+) decided to increase output in November by 137,000 barrels per day (bpd), swaying investors’ concerns about supply additions as analysts saw this OPEC+ move as a “modest” hike. The West Texas Intermediate (WTI) for November’s settlements climbed by 1.72% at 8:16 am ET, going for $61.93 per barrel. Meanwhile, Brent’s deliveries for settlements in December advanced by 1.66% to $65.59 per barrel at the same time.