Oil settled higher ahead of OPEC+ meeting

International benchmarks for crude oil rose to nearly three-year highs on Friday, 1 October 2021 as traders await the OPEC+ meeting outcome. Industry experts said that oil would likely rise further if OPEC+ increases the output by less than 600,000 barrels per day.

Brent gained 97 cents or 1.2% to close at $79.28/barrel.

WTI rose 85 cents to settle at $75.88/barrel.