WASHINGTON (dpa-AFX) - Oil prices edged up slightly on Monday after a strong downward move seen in previous session on concerns about slowing U.S. and Chinese demand.
Brent crude futures edged up 0.2 percent to $77.08 a barrel, while WTI crude futures were up 0.3 percent at $73.75.
Sentiment remained weak amid China demand concerns and signs that OPEC+ will progress with a plan to lift output from October.
Eight OPEC+ members are expected to boost output by 180,000 barrels per day (bpd) in October, as part of a plan to begin unwinding their most recent layer of output cuts of 2.2 million bpd while keeping other cuts in place until end-2025.
Meanwhile, Libyan exports remain halted, but the Arabian Gulf Oil Company has resumed output at up to 120,000 bpd to meet domestic needs, engineers reportedly said on Sunday.
A weaker dollar helped oil prices recover some lost ground today.
The dollar eased slightly after hitting its highest level in nearly two weeks as focus shifted to a slew of U.S. data due this week, including the jobs report on Friday.
Analysts say the job figures could influence the size of the Federal Reserve's expected rate cut in September.
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