Brent crude futures settled up 81 cents, or 1.26%, to US$64.90 a barrel. US West Texas Intermediate crude gained 95 cents, or 1.56%, to stand at US$61.84 a barrel.
NEW YORK: Oil prices gained more than 1% on Wednesday on supply concerns as Opec+ agreed to leave their output policy unchanged and as the US barred Chevron from exporting Venezuelan crude.
Investors previously anticipated members of Opec+ would agree to a production increase later this week.
