Oil prices rise as OPEC+ agrees to raise output at slower pace from October

By Yuka Obayashi

TOKYO (Reuters) -Oil prices rose on Monday in early trade, paring last week’s losses, after OPEC+ agreed over the weekend to raise output further but at a slower pace from October due to an anticipated weakening of global demand.

Brent crude gained 23 cents, or 0.4%, to $65.73 a barrel by 2213 GMT, while U.S. West Texas Intermediate crude climbed 21 cents, or 0.3%, to $62.08 a barrel.

Both benchmarks fell over 2% on Friday as a weak U.S. jobs report dimmed the outlook for energy demand. They lost more than 3% last week.

OPEC+, which includes the Organization of the Petroleum Exporting Countries plus Russia and other allies, has agreed to further raise oil production from October as its leader Saudi Arabia pushes to regain market share, while slowing the pace of increas