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Oil prices rose in Asian trade on Monday and ended a multi-day drop in anticipation of a key OPEC+ meeting on Thursday, Reuters reported. According to experts, the oil cartel will announce new production cuts.

Brent futures from the North Sea, which is a reference for the European market, added 45 cents, or 0.6 percent, to $80.43 a barrel after four straight sessions of depreciation.

U.S. light crude rose 43 cents, or 0.6 percent, to $75.28 a barrel.

OPEC+, which includes OPEC countries and their allies, including Russia, will discuss online production quotas for 2024 but was postponed to settle the controversy with several African countries that want their production quotas to be increased. OPEC+ sources told Reuters the problems had been resolved.

OPEC oil rises above $84 a barrel

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