Oil prices have risen after OPEC+ announced a slower pace in increasing output starting in October. This decision is expected to help balance the global oil market and support prices. OPEC+ has agreed to boost production by 400,000 barrels per day each month, compared to the previously planned 800,000 barrels per day increase. The move comes as demand for oil continues to recover from the pandemic-induced slump, with prices reaching their highest level in six weeks. The decision is also seen as a response to concerns about the Delta variant and its impact on economic recovery.

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