Crude oil prices continue to gain momentum to continue rising higher to the strongest level since November 2022.
During the Asian session, Brent crude oil futures traded at $88.54 a barrel, after hitting a high of $88.89 a barrel on Friday.
Meanwhile, US WTI oil traded at $85.60 per barrel, after soaring to $86.03 per barrel.
The strengthening was driven by expectations that OPEC+ will extend production cuts to ensure oil supplies remain tight.
Russian Deputy Prime Minister Alexander Novak said on Thursday that the country had agreed with other OPEC partners to continue the cuts.
In addition, Saudi Arabia is also expected to extend voluntary production cuts of 1 million barrels per day in October.
On the demand side, a surprise expansion in Chinese manufacturing activity in a private Caixin survey on Friday raised optimism about the economic health of the world's biggest oil importer.
