Oil prices gained on Tuesday after OPEC+ announced a smaller-than-expected supply hike, while fears of new Western sanctions on Russia added to concerns over tighter global supplies.
Brent crude traded at $66.56 per barrel at 11.13 a.m. local time (0811 GMT), up 0.8% from the previous close of $66.05.
US benchmark West Texas Intermediate (WTI) rose 0.8% to $62.67.
OPEC+ producers, including Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria and Oman, agreed Sunday to raise output by 137,000 barrels per day (bpd) in October.
The modest increase, compared to 547,000 bpd in September and 548,000 bpd in August, eased market worries over a potential supply glut.
Analysts said the impact may be limited as several members are already pumping above their quotas.
Concerns over new sanctions on Russia further supported prices after Moscow launched its largest air assault on Ukraine since the war began, setting fire to a government building in Kyiv.
US President Donald Trump said Sunday he is prepared to implement a new phase of sanctions following the overnight attacks that killed four people and injured dozens.
The European Union's sanctions envoy was also in Washington to discuss further measures with US officials.
Market watchers noted that additional restrictions could further tighten Russian crude supplies, lending support to oil prices.
By Firdevs Yuksel
Anadolu Agency
energy@aa.com.tr