Oil prices rose on Monday after OPEC+ agreed to increase output at a slower pace from October due to weakening global demand. Brent crude reached $65.73 a barrel, while U.S. West Texas Intermediate climbed to $62.08 a barrel. The decision came as a surprise, with eight OPEC+ members agreeing to raise production by 137,000 barrels per day, significantly lower than previous months. This move aims to regain market share while preventing a potential oil glut in the upcoming winter months. Despite falling over 2% on Friday, oil prices are showing signs of recovery following the weekend agreement.

Read more at Yahoo Finance: Oil prices rise as OPEC+ agrees to raise output at slower pace from October