Oil prices rose on Monday after Saudi Arabia and Russia confirmed their commitment to continue voluntary oil supply cuts until the end of the year. Brent crude futures rose 1.47% to $86.14 a barrel, while U.S. West Texas Intermediate crude was up 1.6% at $81.80. The cuts could be extended into the first quarter of 2024 to support market stability. Investors will monitor economic data from China, and concerns persist about the European economy.