But a meeting of OPEC and non-OPEC energy ministers in Algiers ended without any formal recommendation for a supply boost.
Crude oil futures have spiked in early Asian trade on Monday, a move unlikely to be welcomed by US President Donald Trump who took to Twitter late last night to express his displeasure at recent price gains.
The threats of disruption as well as the early supply cuts have helped to lift Brent crude futures to almost $80 a barrel this month, a level not seen since 2014.
But if prices really are expected to rise sharply in the coming months on the back of the US sanctions against Iran, it may make sense to buy longer-dated oil at the current prices. It could prompt Washington to consider extraordinary measures, including the use of the Strategic Petroleum Reserve, to cool down fuel prices ahead of the U.S. mid-term elections. Furthermore, it leaves the market extremely vulnerable to supply disruptions. WTI crude, the benchmark North American contract, was up 1.7 per cent at $72 United States a barrel.
"OPEC is one of the third world's biggest accomplishments in my view, not just in terms of oil producers, but it's an organization that can be effective in the world's economy and it's a good, strong foundation", he underlined.
Paul Pogba slams Manchester United attitude
We've played six games in the Premier League, it's not that we should get anxious , but we should obviously get closer. He has openly questioned United's approach to football when playing at home, effectively challenging his own manager.
Although he refrained from specifying how that could be done, Saudi Arabia is the only oil producer with significant spare capacity. -China trade war and supply, especially from the USA, was seen sufficient in the next 12 months, said Janet Kong, BP Plc's head of trading in Asia. "The reason Saudi Arabia didn't increase more is because all of our customers are receiving all of the barrels they want".
With markets showing signs of further tightening ahead of impending new Iran sanctions, traders and analysts are predicting that oil could scale above $90 per barrel.
Wall Street bankers and hedge funds also saw some caveats to the bullish mood.
Higher prices tend to mean higher petrol costs.
Crude oil futures have spiked in early Asian trade, gaining more than 1%. That was the highest level since November 12, 2014. The U.S. Energy Information Administration (EIA) expects domestic crude oil production will increase over the next five years and then flatten after 2022, staying at about 11 million to 12 million barrels per day through 2050.
When you're young it can be this" - she said miming self harm - "and when you're older it can be plastic surgery. Jane Fonda has no problem being honest about the ways she has maintained her looks at age 80.
Michael Kors and private equity firm Blackstone, which owns 20% of Versace, did not immediately respond to a request for comment. Last year, Michael Kors bought Jimmy Choo , the luxury shoemaker founded in London , for nearly £900m.
Real Madrid's summer recruit Thibaut Courtois will also attend the event, and is nearly certain to receive the Golden Glove. A list of 15 nominees will be selected by France Football and a panel of worldwide journalists will vote on a victor .
Ms Butler's remarks were "far from what we should be standing for as a party", one Labour MP told the Press Association. Secondly, it will only look at backing another referendum if no snap general election takes place.
The German shot-stopper is expected to sit behind a back four of Stephan Lichtsteiner, Sokratis, Rob Holding and Nacho Monreal . Arsenal won their fourth Premier League game on the bounce yesterday with a 2-0 victory over Everton at the Emirates.
Sherman played well Sunday, notching a pass breakup on a deep ball intended for speedy Chiefs wide receiver Tyreek Hill . If Garoppolo is out for the season, San Francisco is going to have a tough time competing in the brutally good NFC.
Ford's testimony, Judge Kavanaugh will appear again before the committee", according to a statement from the committee. Lawyers for Christine Blasey Ford and representatives of the committee came to the tentative agreement late Saturday.
Modric , himself, said he's enjoying the praise but added he was not obsessed with winning football's premier individual accolade. The result was all but secure when Getafe's Ivan Alejo was sent off shortly after the hour for a risky tackle on Saul Niguez.
A woman found a two-headed venomous copperhead snake in her neighbour's flower bed - with both heads moving independently. A herpetologist will monitor the two-headed snake and it will be placed in an educational facility if it survives.
A search of the girl's cellphone uncovered messages to the site as well as links to messages from "Sanjuro", police said. Shortly after Wilson posted the blueprints online in 2013, the Obama administration ordered him to take them down.
Nokia 5.1 Plus price to be revealed today via Flipkart
While the 6.1 Plus went on sale soon after the launch, the cheaper Nokia 5 .1 Plus was delayed for a later date. HMD Global-owned Nokia today announced its latest contender in the race of the best phone under Rs 11,000.
Samsung Galaxy J4+ And J6
The Korean technology giant has just slashed the cost of its flagship Galaxy S9 device by £100 - reducing it to £639. While Samsung usually puts out two versions (a regular size and a larger size), this time it's doubling that tally.