European stocks closed higher on Monday as market volatility continued into the last quarter of the year.
European markets
The pan-European Stoxx 600 index provisionally closed up by 0.7%, having recouped early losses of more than 1.3%. Oil and gas stocks added 3.1% to lead gains while food and beverages fell 1.2%.
The early declines in Europe came after a gloomy trading session in Asia-Pacific markets, with sharp moves in the price of oil.
Brent crude futures and West Texas Intermediate futures jumped after reports that OPEC+ is considering an oil output cut of more than a million barrels per day, citing sources.
Such a move would be the biggest taken by the organization to address weakness in global demand.