08:43 AM EDT, 10/07/2025 (MT Newswires) -- Oil prices steadied early Tuesday following two days of gains as traders assess the risks of supply disruptions amid an over-supplied market.

West Texas Intermediate crude oil for November delivery was last seen down US$0.01 to $61.68 per barrel, while December Brent crude was down $0.01 to $65.48.

OPEC+ on the weekend said it will raise member quotas by 137,000 barrels per day, less than feared following earlier reports the cartel was mulling a 500,000 bpd increase.

While the smaller than expected increase offered support to the market, it still comes amid concerns supply has topped demand, with forecasters cutting their expectations for prices as global inventories rise.

RBC Capital Markets Tuesday lowered its average 2025 Brent oil average price forecast to $65.67 per barrel from $68.74. However demand remains solid despite fears U.S. tariff policies will cut into global growth.

"Oil steadied after a two-day rise as OPEC+ approved a modest 137,000 barrels-a-day increase, and Saudi Arabia kept its main Asia grade price unchanged - surprising traders - as it signals robust demand," Saxo Bank noted.

Supply disruptions are also offering support as Ukraine continues to attack Russia's oil infrastructure, striking at the No.2 exporter's refineries and oil-export terminals. The attacks have forced Russia to suspend exports of refined products through year end.