Oil prices rose due to investors anticipating an OPEC+ meeting that could limit supply.

Brent crude futures for January rose 65 cents to $83.75, while U.S. West Texas Intermediate crude futures increased 55 cents to $78.41. OPEC+, including Russia and other producers, is expected to agree to over 1 million barrels per day of output cuts.

Saudi Arabia’s voluntary cut extension would be crucial to avoid collapse.

OPEC+ will convene after an OPEC-only ministers meeting.