Oil prices rose on Tuesday, lifted by expectations of an extension in supply cuts by leading OPEC+ producers.
its 1-million-barrels-per-day voluntary oil production cut until the end of the year, according to the state-owned Saudi Press Agency.
China, the world's second-largest economy, is considered crucial to shoring up oil demand over the rest of the year. Its sluggish economic activity has frustrated markets as pledged stimulus has fallen short of expectations. In the euro zone, the picture was gloomier than initially thought as the bloc's dominant services industry fell into contraction territory, suggesting the bloc could slide into recession.
Eyes are also on U.S. economic data expected later on Tuesday for clues on whether the Federal Reserve will end its aggressive interest rate hike campaign.
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