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Oil prices rose for a second straight day in early Asian trade, boosted by stronger-than-expected US economic growth and hopes of a quick recovery in demand in China as COVID-19 cases as well as deaths from the disease fell from their peak levels reached last month, BTA reported.

North Sea Brent futures were up 30 cents, or 0.34 percent, at $87.77 a barrel.

U.S. light crude was up 34 cents at $81.35 a barrel, up 0.42 percent.

Both contracts rose more than 1 percent yesterday.

OPEC oil is holding a price of more than 84 dollars per barrel

On Monday, official data showed that the US economy grew by 2.9 percent, which was 0.1 percentage point above market expectations.

Meanwhile, authorities in China said the number of cases fell by 72 percent and hospital deaths fell by 79 percent, fueling optimism for a quick recovery in demand in the world's biggest importer of the commodity.

It is expected that next week at its meeting, the ministers of the countries of the oil cartel OPEC will meet regarding the quotas for extraction of the raw material.

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