These additional voluntary cuts are announced by the following OPEC+ countries : Saudi Arabia (1,000 thousand b/d); Iraq (223 thousand b/d); United Arab Emirates (163 thousand b/d); Kuwait (135 thousand b/d); Kazakhstan (82 thousand b/d); Algeria (51 thousand b/d); and Oman (42 thousand b/d) starting 1st of January until the end of March 2024.

Brent fell 15 cents, or 0.2%, to $82.95 a barrel, WTI rose 12 cents, or 0.2%, at $77.98 a barrel.

Brent fell 37 cents, or 0.5%, to $80.21 a barrel, WTI were at $75.18 a barrel, down 36 cents, or 0.5%.

With global oil demand set to moderate in the first quarter of 2024, the OPEC+ alliance appears set to extend its production cuts, though the duration is yet to be determined, analysts say. As well, deeper cuts could be considered, some OPEC+ officials have hinted.

Brent were down $1.04, or 1.3%, at $80.92 a barrel, WTI dipped 90 cents, or 1.2%, to $76.20.

Brent rose 11 cents, or 0.1%, to $82.56 a barrel, WTI rose 14 cents, or 0.2%, to $77.91.

Brent were up 10 cents, or 0.1%, at $77.52 a barrel, WTI was nearly flat at $72.95.

Brent rose 6 cents to $86.91 a barrel, WTI gained 12 cents, or 0.2%, to $82.58 a barrel.

India, the world's third biggest oil importer and consumer, ships over 80% of its oil needs from overseas and wants to cut its crude import bill.

Brent rose $1.16, or 1.3%, to $89.09 a barrel. WTI climbed $1.08, also 1.3%, to $84.29 a barrel.