OPEC hits the brakes on production increase, Trump threatens military action against Venezuela, oil prices rise despite oversupply prospects being ignored.

According to the Wise News Finance App, in the situation where international oil prices continue to be weak and signs of global oil oversupply are becoming increasingly evident, OPEC+ insists on suspending plans to increase production in the first quarter of next year. At the same time, as traders weigh the impact of President Trump's aggressive remarks on Venezuela, an OPEC member, oil prices rose on Monday. As of the time of publication, London Brent crude oil rose by 2.29% to $63.81 per barrel, while WTI crude oil rose by 2.36%, nearing $60 per barrel.