Oil futures rose over $1 on Monday as OPEC+ may deepen production restrictions to support prices after four weeks of drop on demand worries.

Brent futures increased to $81.92, while West Texas Intermediate crude rose to $77.05.

The December WTI contract expires later, but January futures rose to $77.31. OPEC+ sources said they will explore additional supply curbs at its November meeting.

Russian crude oil trading is also a concern, as Washington sanctions three ships transporting Sokol crude to India.