WASHINGTON (dpa-AFX) - Oil prices were little changed on Monday, giving up early gains after OPEC+ decided to hold production steady in early 2026, easing fears of a growing supply surplus.
Benchmark Brent crude futures traded flat at $64.74 a barrel in European trade, while WTI crude futures were down 0.1 percent at $60.92.
Key members of the oil cartel on Sunday agreed to raise production by 137,000 barrels a day for December and signaled a pause in increases in the first quarter of next year, reflecting market concerns about an oversupply.
Analysts said this period from January to March is normally a period of lower demand.
Oil prices gave up early gains after a private survey showed that China's factory activity expansion slowed in October as new orders and output both waned amid tariff anxiety.
The White House has issued a fact sheet outlining some details of the trade pact agreed to earlier this week by Donald Trump and Xi Jinping.
It was said that Beijing will suspend new export controls on rare earth metals and end investigations into U.S. firms in the semiconductor supply chain.
The Trump administration is prepared to raise tariffs on China if Beijing continues blocking rare earth exports, Treasury Secretary Scott Bessent warned on Sunday.
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