US gasoline futures rose toward $1.9 per gallon, following the rise in crude oil prices after OPEC+ signaled a pause to output hikes early next year amid supply glut fears. The producer group on Sunday agreed to boost output by 137,000 bpd in December, matching the increments implemented in October and November, but indicated that further increases would be put on hold from January to March due to seasonality. Additionally, data from the EIA showed that gasoline stocks fell by 5.9 million barrels in the last week of October, the fourth consecutive weekly decline and well above expectations of a 1.9 million barrel drop. This data was aligned with supply pressures from refineries in Asia, with Indian gasoline producers likely having to pay more for their feedstock after the US sanctioned Russian oil majors Rosneft and Lukoil.
