Brent crude oil futures rose more than 1% to $65.4 per barrel on Monday, following a smaller-than-expected production hike from OPEC+ that eased some concerns of more supply. The producer group agreed on Sunday to raise production by 137,000 bpd in November, the same modest increase as in October and well below some of the possible figures reported before the decision. OPEC+ described the latest move as a response to a steady global economic outlook and current healthy market fundamentals, noting that output adjustments may be paused or reversed if conditions change. By the end of September, the group had already removed a 2.2 million bpd voluntary cut a year earlier than planned and was in the process of rolling back an additional 1.65 million bpd cut.