Oil prices edge up ahead of OPEC+ meeting to discuss supply cuts
Oil prices rose on Tuesday as expectations that OPEC+ may agree to a large cut in crude output on Wednesday offset concerns about the global economy.
Brent crude was up 64 cents, or 0.7%, to $89.50 per barrel by 0823 GMT after gaining more than 4% in the previous session.
U.S. crude futures rose 46 cents, or 0.6%, to $84.09 a barrel, having gained more than 5% in the previous session.
The Organization of the Petroleum Exporting Countries (OPEC) and its allies, known collectively as OPEC+, is expected to cut output by more than 1 million barrels per day (bpd) at their first in-person meeting since 2020 on Wednesday, according to OPEC sources.
