Oil prices were marginally up on Monday as the market balanced the latest Organisation of the Petroleum Exporting Countries and its allies (OPEC+) supply increase with plans to pause output increases in the first quarter of 2026, along with fears of an oil supply glut and weak factory data in Asia.
Brent crude futures rose by 12 cents or 0.2 per cent to settle at $64.89 per barrel and the US West Texas Intermediate (WTI) crude expanded by 7 cents or 0.1 per cent to trade at $61.05 a barrel.