“Что особо важно: мы договорились постоянно мониторить ситуацию. Если появятся какие-либо угрозы для рынка, мы в любой момент можем собраться и решить, что необходимо делать. При угрозе дефицита, к примеру, мы можем вынести решение об увеличении производства”, - подчеркнул Александр Новак.

Brent crude futures LCOc1 for September delivery were trading up 12 cents, or 0.2%, at $62.52 a barrel, U.S. crude futures for August CLc1 were up 16 cents, or 0.3%, at $56.41 a barrel.

Brent crude futures LCOc1 were down 15 cents, or 0.23%, at $64.91 a barrel , U.S. crude futures for August CLc1 were down 12 cents, or 0.20%, at $58.97 a barrel

In view of the current fundamentals and the consensus view on the outlook for the remainder of 2019, the Conference decided to extend the voluntary production adjustments agreed at the 175th Meeting of the OPEC Conference for an additional period of nine months from 01 July 2019 to 31 March 2020.

Once again, Iran has been exempted from the OPEC output cut deal, Zangeneh told the reporters.

Front-month Brent crude futures touched an intraday high of $66.75 a barrel and were up $1.80 at $66.54 a barrel by 0834 GMT. U.S. crude futures for August climbed $1.57 to $60.04 a barrel, after earlier hitting their highest in over five weeks at $60.28.

OPEC and its allies led by Russia have been reducing oil output since 2017 to prevent prices from sliding amid soaring production from the United States, which has become the world’s top producer this year ahead of Russia and Saudi Arabia.

Russian President Vladimir Putin struck a deal with Saudi Crown Prince Mohammed Bin Salman to extend the OPEC+ agreement at current production levels for the rest of this year and potentially into early 2020.

The re-opening of trade negotiations between the US and China also opens the door for the easing of trade tensions and potential removal of tariffs on a range of commodities including LNG, LPG, soybeans, metals and petrochemicals.

"As BRICS participants are leading global consumers and producers of energy, our association could be more actively involved in issues of ensuring global energy security and universal access to energy," Putin said, during a meeting of the leaders of the BRICS countries ahead of the G20 Summit in Osaka. The BRICS group comprises Brazil, Russia, India, China and South Africa.

Brent crude futures were down 35 cents, or 0.5%, at $66.20 per barrel, WTI crude CLc1 futures were down 30 cents, or 0.5%, at $59.13 a barrel.

Brent crude was down 11 cents at $66.38 by 1321 GMT. U.S. West Texas Intermediate crude fell 26 cents to $59.12.

Front-month Brent crude futures were up 84 cents at $65.89 per barrel by 0948 GMT. WTI crude futures were at $58.91 per barrel, up $1.08 from their last settlement.

Brent crude futures were down 12 cents at $64.74, U.S. crude futures were up 3 cents at $57.93 a barrel.

U.S. President Donald Trump said on Monday that other countries, including China and Japan, should protect their own oil tankers in the Middle East.