OPEC+ agreed to maintain a timetable for gradual increase in production each month, and crude oil prices rose after hearing the news. According to the OPEC+ statement, in a short video conference on Monday, ministers from member states approved plans to increase production by 400,000 barrels a day in November. The market had previously speculated that OPEC+ might choose to increase production more significantly in November, but according to the representative, no such proposal was made at the meeting. In the New York market, West Texas Intermediate (WTI) once rose 3.3% to $78.38 per barrel, the highest level in nearly seven years.

Fatih Birol, director of the International Energy Agency (IEA), stated at the Energy Intelligence Forum that the IEA expects "oil prices to weaken in the coming months." Falling oil prices will be "good news" for the global economic recovery.

US Senate Republican leader McConnell told President Biden that he should press Democratic leaders in Congress to allow the Democrats to independently raise the debt ceiling because the Republicans will not cooperate with the Democrats. In a letter to Biden on Monday, McConnell asked Biden to "directly approach Democratic congressmen on this issue," and said that the Republican Party would not change its position. "The relationship between the two parties is not a light switch. Pelosi and Schumer turn it on when they want to borrow money, and turn it off when they want to spend money," McConnell said.

St. Louis Federal Reserve Bank President James Bullard said that the surge in inflation this year may be creating a new pricing psychology, that is, businesses and consumers will be used to rising prices, which may give rise to risks in 2022. “I am concerned about the changing mentality surrounding prices in the economy and the mentality of companies that they can pass costs on to customers with relative ease,” Bullard said at a virtual panel discussion hosted by the International Economic Forum of the Americas on Monday. "This has not been the case in the United States for many years," Bullard said. "They feel that if they raise prices, they will lose market share.

According to major lobbying groups in the aviation industry, the pressure on business and long-distance flights caused by travel restrictions will continue until 2022, and the loss of the aviation industry caused by the new crown epidemic will exceed US$200 billion. The International Air Transport Association (IATA) said at its annual meeting in Boston on Monday that airlines are expected to incur a total loss of $11.6 billion next year. The organization also raised its loss forecast for this year and revised up its 2020 loss. According to IATA data, the total net loss of US$201 billion during the epidemic exceeded the cumulative profit of the industry in the past 9 years.

Due to heavy rains and floods, 27 coal mines in China's largest coal-producing province were shut down, adding more pressure to the energy crisis that plagued China. CCTV reported that as of 8 o'clock on Monday morning, the precipitation in parts of Shanxi exceeded 100 millimeters (4 inches). At least 3 rivers have experienced flooding, and 27 reservoirs have exceeded their flood limit water levels. 

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