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Oil prices rose early today on signs of slowing U.S. inflation, easing analysts' fears that the world's biggest oil consumer could face a recession due to further interest rate hikes, and the weaker dollar supported some interest in oil purchases, reported Reuters, quoted by BTA.

Brent North Sea oil futures rose 32 cents, or 0.4 percent, to $85.78 a barrel at 06:07 BST.

U.S. light crude rose 42 cents, or 0.5 percent, to $79.29 a barrel.

Both contracts rose for a second day after rising about 1 percent yesterday.

OPEC+ delegates expect the organization to maintain oil production levels at its upcoming meeting

All eyes will be on today's meeting of the Organization of the Petroleum Exporting Countries and allies including Russia, known as OPEC+, where producers are expected to approve their current production targets agreed in November.

OPEC oil production fell in January as Iraq's exports fell and Nigeria's output failed to recover, with the 10 OPEC members pumping 920,000 barrels a day below the group's target volumes, a Reuters poll found.

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