The cartel just reassessed their output as a result of the continuing war and decided to increase output. And OPEC cares a lot about externalities. They know t

The cartel just reassessed their output as a result of the continuing war and decided to increase output. And OPEC cares a lot about externalities. They know that pushing oil prices high enough will cause a recession which leads to less money for them. (They learned this in 1979). So they try to maintain a healthy but not runiously shortsighted profit.