Oil prices gain after OPEC+ producers hold firm on supply

Oil prices rose on Friday, staging a partial recovery after OPEC+ producers rebuffed a U.S. call to raise supply and instead maintained plans for a gradual return of output halted by the coronavirus pandemic.

Brent crude rose 53 cents or 0.7% to $81.07 a barrel by around 0805 GMT, after falling nearly 2% on Thursday. U.S. oil gained 96 cents or 1.2% to $79.77 a barrel, having declined 2.5% in the previous session.

The OPEC+ group of major producers agreed on Thursday to stick to their plan to raise oil output by 400,000 barrels per day (bpd) from December, ignoring calls from U.S. President Joe Biden for extra output to cool rising prices.