Tue, 2022-10-04 10:48
RIYADH: Oil prices edged up on Tuesday as expectations that the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, may agree to a large cut in crude output when it meets on Wednesday outweighed concerns about the global economy.
Brent crude futures rose 46 cents, or 0.5 percent, to $89.32 per barrel by 0629 GMT after gaining more than 4 percent in the previous session.
US crude futures rose 30 cents, or 0.4 percent, to $83.93 a barrel. The benchmark gained more than 5 percent in the previous session, its largest daily gain since May.Main category: Business & Economy