Singapore - (Saba):
Oil prices rose by more than $1 a barrel in early Asian trading after the OPEC+ group decided to increase production in July by the same amount it increased in each of the previous two months, in line with market expectations.
Brent crude futures rose $1.06, or 1.69%, to $63.84 a barrel, while US West Texas Intermediate crude rose $1.16, or 1.91%, to $61.95 a barrel.
OPEC+ decided on Saturday to increase production by 411,000 barrels per day in July compared to the production level requested in June 2025, equivalent to three monthly increases.
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