Oil Prices Rise $1 After OPEC+ Holds Output Steady
Crude oil prices moved higher on Monday after OPEC+ leaders reaffirmed their plan to hold oil output steady through the first quarter of 2026. The decision renewed concerns about global supply, even as analysts continued to warn about too much oil on the market.
West Texas Intermediate (WTI), the U.S. benchmark, settled around $59.48 a barrel, climbing roughly $1 following the producer group’s announcement. Brent crude, the international benchmark, closed near $62.80 a barrel.
The gains came one day after the Organization of the Petroleum Exporting Countries and its allies confirmed they will pause production increases and maintain voluntary cuts totaling 3.24 million barrels per day into early next year. The continuation of cuts preserved existing market tension despite persistent fears of oversupply.
Natural gas also ended the day higher. Prices climbed 1.48%, settling at $4.922 MMBtu, a rise of $0.072.
Oklahoma energy stocks delivered mixed results in Monday trading.
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Stardust Power fell sharply, dropping more than 9%.
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Mammoth Energy slid more than 3%.
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LSB Industries closed with a gain of roughly 3%.
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SandRidge Energy also finished the session up nearly 3%.