In the early morning of the 18th Beijing time, crude oil futures prices closed higher on Monday, shaking off the early decline. It is reported that China will increase overseas crude oil imports and most of OPEC + member countries complied with production quotas last month, which supported oil prices. WTI futures for September delivery on the New York Mercantile Exchange rose 88 cents, or 2.1%, to $42.89 a barrel. October Brent crude oil futures rose 57 cents, or 1.3%, to $45.37 a barrel on intercontinental London, the benchmark for global crude oil prices. According to media reports on Friday, China’s state-owned oil companies have temporarily ordered tankers to ship back at least 20 million barrels of U.S. crude oil in August and September. Mihir kapadia, CEO of sun global investments, said it showed that international tensions were not as serious as initially feared. He also said that as countries began to reopen their borders and their economies returned to normal, the demand for crude oil was gradually increasing. According to media reports on Monday, the number of production cuts by the organization of Petroleum Exporting Countries (OPEC +) and its allies (OPEC +) reached 95% to 97% of the agreed quota in July, with a record high compliance rate.