Oil also gained support from expectations the latest reports on US inventories will show a further tightening of supplies
Rising US output threatens to undermine efforts to support prices by withholding supplies
Gains are likely to be muted as inventories need to be cut further: Expert
There may be a review of the deal in June, should the market overheat
The deal expires in March 2018 but is widely expected to be extended at Opec's next meeting on November 30
Indian policymakers need to watch the sector carefully but maybe there's no reason to get into a deep funk
Considering India is a net oil importer with inelastic demand, movement in global crude oil prices tend to have an important bearing on the macro stability risks
Surana feels that the rise in prices is still not an indication of any structural change, it is more a reaction towards the geopolitical situation
US energy companies cut eight oil rigs last week, to 729, in the biggest reduction since May 2016
Saudi Arabian Crown Prince Mohammed bin Salman last week backed extending production cuts by the Opec
Iraq's Kurdistan briefly shut down some 350,000 barrels per day (bpd) of production from major fields Bai Hassan and Avana due to security concerns
Oil prices rose as Saudi Arabia announced it would further curtail oil exports,
US refinery utilization was expected to rise 3.6 percentage points from 83.2 percent of total capacity in the week ended Sept. 15
The hurricane knocked out power to nearly 4 million homes and businesses in Florida
US crude futures were down 59 cents, or 1.19 per cent, at $48.99 per barrel
Crude futures had been lower in early trade before the jobs report spurred buying
NYMEX crude for September delivery fell 20 cents to $45.57 a barrel
China imported 8.55 million bpd of oil in the H1 of 2017, up 13.8% on the same period in 2016
Russia says ready to consider revising output deal parameters
The dollar fell 0.1% against a basket of six major currencies