Oil declined at the start of the week as expectations that OPEC+ will hike production again in November exacerbated concerns about a glut. The alliance led by Saudi Arabia is considering raising output by at least as much as the 137,000 barrel-a-day hike scheduled for next month, according to people familiar with the plans. Delegates have also emphasized that the actual supply increase would be much lower as some member countries lack the ability to produce more. OPEC+ is scheduled to decide its supply policy for November on Oct. 5. However, the International Energy Agency is projecting a record glut in 2026 as OPEC+ continues to revive production and supply from the group’s rivals climbs.