08:44 AM EDT, 10/06/2025 (MT Newswires) -- Oil prices rose for a second day early Monday as OPEC+ on the weekend decided on a monthly production increase of 137,000 barrels per day for November, less than reports last week expected but still adding fresh supply to an already flush market.

West Texas Intermediate crude oil for November delivery was last seen up US$0.28 to $61.14 per barrel, while December Brent oil was up $0.36 to $64.89.

OPEC+ on the weekend met to decide on members' November quotas and opted for a second-straight addition of 137,000 bpd, calming concerns it would decide to add 500,000 bpd of new supply in a fight for market share amid rising production outside the cartel. However the additional output comes as observers see a market already over supplied amid a slowing global economy.

"The market has flipped from tight to tepid, with further production increases from OPEC+ testing price support. Supply is only moving in one direction, and with demand weakening, the remainder of 2025 will be a one-two punch for crude prices. Global liquids balances have shifted decisively into surplus after a period of tightness that began mid-2024 through 2025. The key turning point has been the steady unwinding of OPEC+ production cuts, which are set to add close to 2.5 million barrels per day of supply in the second half of 2025, combined with continued resilience in non-OPEC+ growth," Susan Bell, senior vice president, commodity markets - oil at Rystad Energy, said in a note.

Still supply risks are offering some support to the commodity as Ukraine continues to attack Russian oil infrastructure. The country's forces on the weekend struck at the Kirishi oil refinery near St. Petersburg for a second time, further limiting the supply of refined products, cutting into fuel supply for export, domestic demand and Russia's military. Bloomberg reported the attacks have cut the country's refining capacity by 500,000 barrels per day.