Oil rises after OPEC+ meeting maintains current output

PERTH, Dec 1 (Reuters) - Oil prices rose more than 1.5% on Monday after the OPEC+ meeting on Sunday decided against earlier planned production rises in the first quarter of next year.

Brent crude futures climbed 94 cents, or 1.51%, to $63.32 a barrel by 2327 GMT. U.S. West Texas Intermediate crude was at $59.45 a barrel, up 90 cents, or 1.54%.

OPEC+ agreed to leave oil output levels unchanged for the first quarter of 2026 at its meeting as the group slows its push to regain market share amid fears of a looming supply glut.