Oil prices rose on Tuesday on clear signs that producers are sticking to commitments to cut crude supply as more cars get back on the road with coronavirus lockdowns easing around the world.
United States (US) West Texas Intermediate (WTI) crude futures gained 2.3 per cent, or 75 cents, to $34.00 as of 0057 GMT. There was no WTI settlement on Monday because of the US Memorial Day holiday.
Brent crude futures inched up 0.7 per cent, or 23 cents to $35.76, adding to a 1.1 per cent gain on Monday in thin holiday trading.
The market was buoyed by comments from Russia reporting its oil output had nearly dropped to its target of 8.5 million barrels per day (bpd) for May and June under its supply cut deal with the Organisation of the Petroleum Exporting Countries (OPEC) and other leading producers, a grouping known as OPEC+.
