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Oil Gains after OPEC+ Announces Modest Output HikeSingapore, 6 Oct (ONA) — Oil prices gained around %1 in early trading today after OPEC+ announced a lower-than-expected increase in production, easing some concerns about a potential supply surge. Brent crude futures rose 63 cents, or 1%, to $65.16 a barrel, while US West Texas Intermediate (WTI) crude climbed 58 cents, or 1%, to $61.46 a barrel. Yesterday, the Organization of the Petroleum Exporting Countries and its allies, including Russia (OPEC+), said it would raise output by 137,000 barrels per day (bpd) from November, matching the modest monthly increase agreed for October, amid persistent worries about a possible supply glut.— Ends/Khalid
