Oil prices rise, OPEC+ will suspend production increase in the first quarter of next year.

After a slight increase in production next month, OPEC+ will suspend the increase in production in the first quarter of next year. The organization is seeking a balance between market share and the appearance of oversupply in the market. Oil prices have risen, with Brent crude futures rising above $65 per barrel and WTI crude futures around $61. In a video conference on Sunday, key member countries led by Saudi Arabia agreed to increase production by 137,000 barrels per day next month, consistent with the increase planned for October and November. They will then suspend production increases from January to March next year. Representatives at the meeting said that the decision to suspend production from January reflects expectations of a slowdown in seasonal demand in the first quarter.