Oil prices rise ahead of OPEC+ meeting on extended output cuts - Reuters

Oil prices rise ahead of OPEC+ meeting on extended output cuts - Reuters:

Oil prices rose on Tuesday, with traders waiting to see whether major producers agree to extend their huge output cuts to shore up prices at a virtual meeting expected later this week.

Brent crude LCOc1 futures rose 0.94%, or 36 cents, to $38.68 a barrel as of 0630 GMT.

West Texas Intermediate (WTI) crude CLc1 futures rose 0.73%, or 26 cents, to $35.70 a barrel.

Brent has doubled over the past six weeks, thanks to supply cuts by the Organization of the Petroleum Exporting Countries (OPEC) and allies, including Russia, a grouping dubbed OPEC+.