Baghdad: Oil prices rose on Tuesday after the OPEC+ group decided to increase production, while concerns over shrinking supply continued to support prices. Brent crude rose 22 cents, or 0.33%, to $66.24 a barrel. While West Texas Intermediate crude rose 24 cents, or 0.39%, to $62.50 a barrel.

According to National Iraqi News Agency, eight members of OPEC+, which includes the Organization of the Petroleum Exporting Countries (OPEC) and its allies, agreed on Sunday to increase production by 137,000 barrels per day starting in October. This is significantly lower than the monthly increases of about 555,000 barrels per day for September and August, and 411,000 barrels per day for July and June.