According to these , Saudi Arabia cut Cause.movement.down.loss output by 55,000 bpd to 9.86 million bpd in August but overall OPEC output rose Movement.up.gain to 30.35 million bpd , due to recovery in Libya and higher Movement.up.gain exports from Angola .

And higher Movement.up.gain oil production from the United States as well as Canada is providing a buffer against the threat of retaliatory supply curbs Cause.movement.down.loss from Russia or further disruptions Cause.movement.down.loss to supplies from the Middle East .

A expansion Grow.strong in economic growth in Europe or another output cut Cause.movement.down.loss could again push futures higher Movement.up.gain in the short term , but risks appear increasingly skewed lower .

So far , OPEC officials have not expressed a pressing concern Negative_sentiment about the fall Movement.down.loss in prices , seeing it as a temporary deterioration Movement.down.loss and predicting prices will seek higher ground Movement.up.gain higher Movement.up.gain ground as higher seasonal demand kicks in due to colder weather .

Since then , both have pushed higher Movement.up.gain , with a barrel of Brent now trading up Movement.up.gain by $ 1 at $ 66.56 -- a two-week high Position.high .

The bulls might get what they 're waiting for in June if other major producers decides to hold Movement.flat or even add to Situation_deteriorate production caps Cause.movement.down.loss , thus providing support for higher Movement.up.gain oil prices .

Consuming nations might bank on sharply higher Movement.up.gain supply from Libya , Iran and Iraq , on the basis of their bullish Grow.strong estimates of exports this week - but only once they have put present troubles behind them .

Investing.com - Oil prices were higher Movement.up.gain on Monday as the U.S. and China has put their trade war trade.financial.tension `` on hold '' to discuss a trade agreement .

Oil is cruising higher Movement.up.gain after data showed US crude stockpiles unexpectedly fell Movement.down.loss last week .

The result typically is higher Movement.up.gain production than the market can bear , a phenomenon that ultimately weighs on crude prices .

Consumption of oil outside Iran was higher Movement.up.gain , however , averaging 96.4 million bpd .

OPEC also lowered Cause.movement.down.loss forecast global demand for its crude oil in this year and next to 310,000 bpd , below Movement.down.loss 70,000 bpd from the previous estimate , citing the lower Movement.down.loss demand forecast and a higher Movement.up.gain expectation of non-OPEC output .

The bulls might get what they 're waiting for in June if Opec decides to maintain Movement.flat or even increase Situation_deteriorate supply restrictions Cause.movement.down.loss , thus providing support for higher Movement.up.gain oil prices .

According to secondary sources cited by the report , output increased Movement.up.gain by 170,000 bpd to 29.91 million bpd , led by higher Movement.up.gain supply in Libya and Saudi Arabia .

So far , OPEC officials have not expressed a pressing concern Negative_sentiment about the drop Movement.down.loss in prices , seeing it as a temporary dip Movement.down.loss and predicting prices will rise Movement.up.gain as higher Movement.up.gain seasonal demand kicks in due to colder weather .

A rise Grow.strong in economic growth in Europe or another production cut Cause.movement.down.loss could again push futures higher Movement.up.gain in the short term , but risks appear increasingly skewed lower .

The bulls might get what they 're waiting for in June if Organization of the Petroleum Exporting Countries ( OPEC ) decides to hold Movement.flat or even add to Situation_deteriorate output curbs Cause.movement.down.loss , thus providing support for higher Movement.up.gain oil prices .

The bulls might get what they 're waiting for in June if themselves decides to hold Movement.flat or even add to Situation_deteriorate production cuts Cause.movement.down.loss , thus providing support for higher Movement.up.gain oil futures .

So far , OPEC officials have not expressed a pressing concern Negative_sentiment about the slump Movement.down.loss in prices , seeing it as a temporary downturn Movement.down.loss and predicting prices will seek higher ground Movement.up.gain higher Movement.up.gain ground as higher seasonal consumption kicks in due to colder weather .

The bulls might get what they 're waiting for in June if other major producers decides to hold Movement.flat or even deepen Situation_deteriorate output caps Cause.movement.down.loss , thus providing support for higher Movement.up.gain oil prices .

A boom Grow.strong in economic growth in Europe or another output cut Cause.movement.down.loss could again push futures higher Movement.up.gain in the short term , but risks appear increasingly skewed lower .

OPEC also trimmed Cause.movement.down.loss forecast global demand for its crude oil in 2014 to 29.61 million bpd , down Movement.down.loss 70,000 bpd from the previous estimate , citing the lower Movement.down.loss demand forecast and a higher Movement.up.gain expectation of non-OPEC supply .

A rise Grow.strong in economic growth in Europe or another supply cut Cause.movement.down.loss could again push futures higher Movement.up.gain in the short term , but risks appear increasingly skewed lower .

A spurt Grow.strong in economic growth in Europe or another supply disruption Cause.movement.down.loss could again push prices higher Movement.up.gain in the short term , but risks appear increasingly skewed lower .

The world 's top exporter will be pumping harder in any case given higher Movement.up.gain domestic consumption during the summer months .

The bulls might get what they 're waiting for in June if Organization of the Petroleum Exporting Countries ( OPEC ) decides to hold Movement.flat or even add to Situation_deteriorate production restrictions Cause.movement.down.loss , thus providing support for higher Movement.up.gain oil futures .

A rise Grow.strong in economic growth in Europe or another output reduction Cause.movement.down.loss could again push prices higher Movement.up.gain in the short term , but risks appear increasingly skewed lower .

Last week , oil finished higher Movement.up.gain on Friday , boosted Cause.movement.up.gain by signs of rising Movement.up.gain crude demand in China , but prices failed to avoid a weekly loss Movement.down.loss amid concerns Negative_sentiment over rising Movement.up.gain production in the U.S. Meanwhile , February Brent crude futures , the benchmark for oil prices outside the U.S. , jumped Movement.up.gain $ 1.20 , or roughly 1.9 % , to settle at $ 63.40 a barrel by close of trade .

Output from the Organization of the Petroleum Exporting Countries -LRB- OPEC -RRB- rose Movement.up.gain in August as higher Movement.up.gain supply from Iraq and Nigeria outweighed cuts Cause.movement.down.loss by top producer Saudi Arabia and losses Movement.down.loss caused by U.S. sanctions Embargo on Iran .

Futures inched 0.4 percent higher Movement.up.gain on Friday in New York , pushing the weekly advance to 3.9 percent .

Total motor gasoline inventories rose Movement.up.gain by 1.7 million barrels , significantly higher Movement.up.gain than expectations for a 0.5 million barrel increase Movement.up.gain and the biggest gain Movement.up.gain since early April .

U.S. oil futures settled sharply higher Movement.up.gain Friday after government inventory data showed a smaller-than-expected fall Movement.down.loss in crude inventories , but contrasted with unofficial figures that had showed a massive supply build Movement.up.gain , sparking a relief rally .

Oil prices were higher Movement.up.gain after the news as trade tensions trade.financial.tension wore off , with both Brent and WTI were near their highest Position.high levels since November 2014 .

Brent crude was trading 4 % higher Movement.up.gain at $ 35.75 a barrel at 9 a.m. in London .