Russia's Lukoil has increased oil production at Iraq's southern West Qurna 2 oilfield by 80,000 barrels per day bpd to a total of 480,000 bpd.
OPEC and its allies are unlikely to deepen supply cuts at their ministerial meeting despite a fall in oil prices toward $70 per barrel.
Leading crude exporter Saudi Arabia is maximizing refining profits by importing unprecedented amounts of cheap Russian diesel and in turn shipping record volumes to Singapore, where the fuel can achieve higher margins, shiptracking data shows.
Oil prices ticked up as the market weighed conflicting messages on supply from Russia and Saudi Arabia ahead of the next OPEC+ policy meeting.
Russia is leaning towards leaving oil production volumes unchanged ahead of an OPEC+ policy meeting in June because Moscow is content with current prices and output.
Industrial gases maker Air Products and Chemicals said it had signed a $1-B deal with the Republic of Uzbekistan government and Uzbekneftegaz JSC to acquire, own and operate a natural gas processing facility in the country.
Oil prices rose, driven up by tightening U.S. inventories and a warning from the Saudi energy minister that raised the prospect of further OPEC+ production cuts.
Oil prices gained after U.S. oil and fuel supplies tightened and as a warning from the Saudi energy minister to speculators raised the prospect of further OPEC+ output cuts.
Iraq is still waiting for a final answer from Turkey to resume its northern oil exports, which run from the semi-autonomous Kurdistan region to the Turkish port of Ceyhan, Iraq's oil minister Hayan Abdel-Ghani said.
Oil rose supported by optimism the U.S. would avoid a debt default, a tighter market outlook and a warning from the Saudi energy minister to speculators that raised the prospect of further OPEC+ cuts to support the market.