Oil advanced a fourth day after OPEC+ said it planned to pause output increases in the first quarter of 2026, following another modest hike for next month.

Brent crude rose above $65 a barrel in its longest streak of gains since late September, while West Texas Intermediate was near $61. The Organization of the Petroleum Exporting Countries and its allies said on Sunday they would raise production by about 137,000 barrels a day in December, matching increases scheduled for October and November. The group will then take a January-through-March hiatus.

The move by OPEC+ comes as the market faces the prospect of a ballooning oversupply that has seen global benchmark Brent lose about 10% over the past three months. Prices have risen from a five-month low after tighter US sanctions on Russia

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