OPEC+ has increased production for three consecutive months, coupled with rising geopolitical risks, causing oil prices to show a volatile uptrend.

According to the Wisdom Financial App, due to the continuous third increase in production quotas by the Organization of the Petroleum Exporting Countries and its allies (OPEC+), as well as the ongoing impact of geopolitical risks such as the Ukraine crisis and the Iran nuclear issue, international oil prices have shown a volatile upward trend. In August, the price of London Brent crude oil futures rose by 2.1% to $64.09 per barrel at one point, narrowing the 2.2% decline from the previous week; while the New York Mercantile Exchange West Texas Intermediate (WTI) crude oil futures also strengthened, returning above $62 per barrel, reversing the previous weak trend of falling below that level.