Oil prices rose for a third day on Friday after a survey showed strong compliance with output cuts by OPEC and others including Russia, offsetting concerns about surging US production.
Brent LCOc1 futures, the global benchmark, were up 24 cents, or 0.3 per cent, at $69.89 a barrel by 0635 GMT.
US West Texas Intermediate (WTI) crude CLc1 was up 33 cents, or 0.5 per cent, at $66.13 a barrel, according to Reuters.
Production by the OPEC rose in January from an eight-month low as higher output from Nigeria and Saudi Arabia offset a further decline in Venezuela and strong compliance with a supply reduction pact.
OPEC pumped 32.4 million barrels per day (bpd) in January, the survey found, up 100,000 bpd from December. Last month’s total was revised down by 110,000 bpd to the lowest since April 2017.
US crude output surpassed 10 million bpd in November for the first time since 1970, the Energy Information Administration said this week.