Sanaa: Oil prices rose in trading on Monday after the OPEC+ group announced a modest monthly increase in crude oil production at a lower-than-expected pace. US West Texas Intermediate (WTI) crude futures for November rose 1.63% to $61.87 a barrel. Meanwhile, global Brent crude futures for December rose 1.55% to $65.53 a barrel.
According to Yemen News Agency, the eight OPEC+ members announced that they had agreed to raise their oil production ceiling for November by 137,000 barrels per day compared to the October level. This is the same modest increase they made in October 2025 amid ongoing concerns of an impending supply glut.