07:36 AM EDT, 09/08/2025 (MT Newswires) -- Oil prices were up early Monday as certain members of the Organization of the Petroleum Exporting Countries and its allies, or the OPEC+, agreed to raise output further, though at a slower pace than in recent months.

On Sunday, eight OPEC+ members agreed to increase production from October by 137,000 barrels a day. That's much lower than the monthly hikes of about 555,000 barrels per day for September and August and 411,000 barrels in July and June, Reuters reported.

West Texas Intermediate crude oil was up 2.1% at $63.20 a barrel early Monday, while Brent rose 2% to $66.83 a barrel.

Shell (SHEL) shares were up 1% in recent premarket activity, while BP (BP) rose 0.8%. Exxon Mobil ( XOM ) , Chevron ( CVX ) and certain other oil stocks were also higher.