09:04 AM EDT, 09/09/2025 (MT Newswires) -- Oil traded higher for a second day early on Tuesday, bucking over-supply worries after OPEC+'s weekend decision to add 137,000-barrels per day to the market in October after last week completing the return of 2.2-million barrels per day of voluntary production cuts.

West Texas Intermediate crude oil for October delivery was last seen up US$0.55 to US$62.81 per barrel, while November Brent crude was up US$0.57 to US$66.59.

The rise comes even as OPEC+ on the weekend agreed to add 137,000 bpd of fresh supply to the market in October, continuing to return production cuts to the market after wrapping up the return of voluntary cuts with a final 548,000 bpd tranche on Sept.1.

The planned October hike is likely to be lower than advertised as cartel members reduce output to compensate for past over production, but still comes as demand weakens as global growth slows and western hemisphere output climbs, with OPEC+ leader Saudi Arabia appearing to focus on market share instead of supporting price stability.

"Although the recent shift of OPEC's strategy wasn't altogether shocking, this latest move appears more difficult to reconcile, as we see the oil market standing on the precipice of bruising oversupply. We believe this expectation of a 2026 oil glut has become something of a consensus view," Walt Chancellor, an energy strategist at Macquarie Group, said in a Monday note.

Still, prices are being supported by still strong summer demand, a dollar that has fallen to three-year lows as the U.S. economy weakens and continuing threats from U.S. President Donald Trump to impose new sanctions on Russia's oil exports.

"Oil prices will likely be caught in this cycle of dithering until something becomes concrete from meetings involving the European Union's sanction officials and their Washington counterparts in the US capital as discussions continue. Politics continues in being able to run roughshod over fundamental considerations, and frustratingly, sometimes not," PVM Oil Associates said.