Oil prices fluctuated between gains and losses after the OPEC+ alliance decided to increase the production of some of its members starting in October.

Despite concerns about the outlook for demand and strong supplies from outside the group, the Saudi Ministry of Energy announced that production restrictions will continue in full in the third quarter, and then will be phased out over the following 12 months.

Brent crude recovered from its previous losses, rising to about $82 per barrel, while West Texas Intermediate crude traded above $77.

This agreement aims to maintain support for oil prices while easing production restrictions, and one of its positive aspects is that it helps maintain cohesion.

Although most market observers expect OPEC+ to extend the cuts until the end of the year, the continuation of unbalanced cuts in the long term would have been a source of contention.

Oil prices fell last month due to ongoing concerns about demand expectations from China, the world's largest crude importer.

Futures remained high this year thanks to geopolitical tensions and regional challenges, and with continued attention to geopolitical tensions and economic developments, the oil market remains volatile and the focus of attention of investors and analysts.