Yet again, OPEC has postponed plans to increase oil production until at least the end of the year. That drove oil futures higher on Monday — West Texas Intermediate is trading around $71.50 a barrel. The oil cartel has been reluctant to bring back oil supply for a while now. What gives?

Saudi Arabia, which leads the group, appears wary of unsettling markets just before the U.S. presidential election on Tuesday.

Oil futures finished sharply higher Monday after OPEC+ said it would wait another month before beginning to unwind voluntary production cuts. Natural-gas prices also rallied as a potential hurricane looked to be heading into the Gulf of Mexico.

Oil prices rose after OPEC and its allies pushed back a planned production increase by a month, signaling caution amid growing concerns about weaker global demand and lower prices.