Oil Rises as Traders Weigh Oversupply Concerns

Group 1 - Oil prices are rising but remain in a narrow range due to concerns over a potential supply surplus in global markets [1] - Brent crude and WTI prices increased by 0.9%, reaching $66.01 and $61.84 per barrel, respectively [1] - The U.S. Energy Information Administration has raised its estimates for U.S. crude-oil production and anticipates that global oil inventories will exert significant pressure on prices in the upcoming months [1] Group 2 - OPEC+ has agreed to maintain an output increase of 137,000 barrels per day for November, consistent with October's levels [2] - Analysts from ANZ Research suggest that until there are signs of a softening physical market indicated by rising inventories, investors are likely to overlook the impact of production increases [2]