Oil rose 1% on Monday as signs of strong demand outweighed the impact of OPEC+ hiking output more than expected for August, as well as concern about the potential impact of U.S. tariffs.

Crude oil shook off early negative reaction to the bigger than expected OPEC+ output increase to settle higher, as OPEC's confidence in phasing out cuts suggests an optimistic demand outlook

OPEC+ is accelerating its oil production increases, aiming to fully unwind its 2023 supply cuts by September, risking an oversupplied market and pressuring U.S. shale producers.