BEIJING : Oil prices rose on Friday in early Asian trade as markets weighed the likelihood of price-supportive OPEC+ production cuts over the weekend amid positive sentiment over U.S. monetary policy and Washington's debt ceiling bill.
The U.S. debt ceiling bill is currently awaiting approval by the Senate, which Democratic Majority Leader Chuck Schumer has said will stay in session on Thursday night U.S. time until it is passed. Ministers from key oil producing countries will decide whether to further trim output to support government revenues.
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