U.S. oil prices gained 1.4 percent on Tuesday on unlikely production expansion from OPEC members.
Saudi Arabia now feels comfortable with oil prices higher than 80 U.S. dollars per barrel, according to a media report on Tuesday citing anonymous sources from the country.
Statistics showed that export of crude oil and condensate by Iran dropped around 35 percent since April 2018.
OPEC and its partners have not formed a plan on raising crude oil output at their meeting on Sept. 16 and should discuss this matter later.
The West Texas Intermediate (WTI) for October delivery increased 0.94 U.S. dollar to settle at 69.85 dollars a barrel on the New York Mercantile Exchange.
Saudi Arabia now feels comfortable with oil prices higher than 80 U.S. dollars per barrel, according to a media report on Tuesday citing anonymous sources from the country.
Statistics showed that export of crude oil and condensate by Iran dropped around 35 percent since April 2018.
OPEC and its partners have not formed a plan on raising crude oil output at their meeting on Sept. 16 and should discuss this matter later.
The West Texas Intermediate (WTI) for October delivery increased 0.94 U.S. dollar to settle at 69.85 dollars a barrel on the New York Mercantile Exchange.
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