Oil rose above $81 a barrel in London as traders are waiting to see whether the Organization of the Petroleum Exporting Countries+ (Opec+) alliance led by Saudi Arabia will intervene to bolster prices.
Brent crude futures rose 0.7 per cent after rallying 4.1 per cent on Friday amid reports that Saudi Arabia and its allies could deepen production cuts when they gather next weekend. A Bloomberg gauge of the US dollar is heading for its lowest close since late August, making commodities more attractive.
