Oil rises on prospects of OPEC+ production cuts

World oil prices morning rose on October 4 on a possible decrease in OPEC+ production, Report informs referring to the auction data.

The price of December futures for Brent crude rose by 0.45% to $89.26 per barrel, November futures for WTI increased by 0.25% to $83.85.

Prices are buoyed by the OPEC+ meeting that will take place in Vienna on October 5. At the meeting, the alliance will consider the option of reducing oil production by more than 1 million barrels per day, Bloomberg reported.