OPEC+ members have agreed to cut oil output by an additional one million barrels per day
OPEC+ agreed to deepen its production cuts following a slump in crude prices and predictions of a renewed surplus next year.
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OPEC+ agreed to deepen its production cuts following a slump in crude prices and predictions of a renewed surplus next year.
Brazil will join the influential OPEC+ oil coalition that unites some of the biggest crude-producing nations in the world, according to Brazilian Energy Minister Alexandre Silveira.
Read MoreOPEC+ is looking at deepening oil production cuts despite its policy meeting being postponed to this Thursday amid a quota disagreement between some producers, an OPEC+ source said on Monday.
Read MoreBrent crude futures were up $1.23, or about 1.4%, at$91.13 a barrel at 1326 GMT. West Texas Intermediate crude (WTI) futures were up $1.25, also around 1.4%, at $87.91 a barrel. Both benchmarks gained more than $3 to hit their highest levels in two weeks earlier in the session.
Read MoreOil prices climbed on Thursday to their highest this year, as expectations of tighter supply outweighed worries about weaker economic growth and rising U.S. crude inventories.
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