Members of the OPEC+ oil cartel agreed to extend production restrictions for another month, the group announced on Sunday. The production cuts of 2.2 million barrels per day that have been in place since November 2023 will now be maintained until the end of December. Since July, oil prices have generally been on the decline. Last week, the price for the US variety West Texas Intermediate (WTI) was partly below $70, with the North Sea variety Brent slightly above that. Towards the end of the week, declining US inventory levels and the risk of escalation in the Middle East once again led to a sl…