Mubasher: OPEC and its allies are expected to postpone an upcoming policy meeting from March to June, Reuters reported on Tuesday.
OPEC+ may extend its current oil production reduction agreement to June in case March meeting was postponed, unnamed sources said.
February West Texas Intermediate crude rose by $0.35, or 0.6%, to $58.43 per barrel (pb) on Tuesday on the New York Mercantile Exchange.
Meanwhile, March Brent increased by $0.59, or 0.9%, to $64.79 pb on ICE Futures Europe.
WTI settled at its lowest level since 3 December 2019 on Monday, while Brent ended at the lowest level since 12 December on yesterday’s session.