Oil prices reached their highest level since November due to OPEC+ production limits tightening the market.

Brent remains above $88, while West Texas Intermediate futures remain above $85 a barrel.

Russia predicts OPEC+ will announce crude export cuts soon, and Saudi Arabia and Moscow may extend voluntary limitations until October.

Oil prices rose this quarter due to US stocks falling and supply reductions rebalanced the market.

Analysts predict supply tightening if Saudi and allies don’t reverse their output cuts plan, and demand is optimistic.