Oil prices edged higher in early trade on Wednesday as markets started to brush off oversupply fear for the time being, having digested a decision by OPEC+ to restrain November production increases.

Brent crude futures was up 40 cents, or 0.6%, to $65.85 a barrel by 0045 GMT. U.S. West Texas Intermediate crude climbed 44 cents, or 0.7%, to $62.17.

The benchmarks settled broadly flat in the previous session as investors weighed signs of a supply glut against a smaller-than-expected increase to November output from the Organization of the Petroleum Exporting Countries and affiliates.

OPEC+ had opted for a rise of 137,000 barrels a day, the lowest amount among options the group discussed at the weekend.

"Until the physical market shows signs of softening via rising inventories, investors

See Full Page