Oil prices jump 1.5% after lower-than-expected OPEC+ output hike

By Emily Chow and Trixie Yap SINGAPORE (Reuters) -Oil prices rose around 1.5% on Monday after OPEC+ announced a more modest monthly increase in production than expected, tempering some concerns about supply additions, though analysts expect near-term gains to be capped by a soft demand outlook. Brent crude futures rose 91 cents, or 1.4%, to $65.44 a barrel by 0315 GMT, while U.S. West Texas Intermediate crude was at $61.77, up 89 cents, or 1.5%. "The price jump has primarily been boosted by OPEC+'s decision for a lower-than-expected production hike next month as the group intended to buffer the recent slump in oil markets," said independent analyst Tina Teng. On Sunday, the Organization of the Petroleum Exporting Countries plus Russia and some smaller producers said it would raise producti