BEIJING -Oil prices rose on Tuesday after OPEC+ plans to cut more production jolted markets the previous day, with investors' attention shifting to demand trends and the impact of higher prices on the global economy. Brent crude futures were up 42 cents, or 0.5 percent, to $85.35 a barrel by 0632 GMT. U.S. West Texas Intermediate (WTI) crude futures were trading at $80.85 a barrel, up 43 cents, or 0.5 percent. Both benchmarks jumped more than 6 percent on Monday after the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, collectively known as OPEC+, rocked markets with Sunday's announcement of plans to lower output targets by a further 1.

https://business.inquirer.net/394673/oil-posts-gains-while-attention-shifts-to-demand-side

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