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Oil rose after Saudi Arabia prolonged its unilateral production cut by another month and hinted that deeper reductions may be on the way.

Oil edged higher as the effect of rapidly tightening supplies outweighed a weakening risk appetite in broader markets.

Oil edged up after Saudi Arabia and Russia reaffirmed they will stick with oil supply curbs of more than 1 million barrels a day through the end of the year.

Oil rose to near $73 as traders evaluated a warning from Saudi Energy Minister Prince Abdulaziz bin Salman to short-sellers, offsetting a lack of tangible progress in US debt-limit talks.

Oil edged higher in rangebound trading as investors weighed shifting risks in the Middle East against hawkish comments from the Federal Reserve.

Oil edged up in a thinly traded summer session, settling above $81 a barrel, as the market took a substantial drop in US crude stockpiles in stride.

Oil climbed after government data showed a decline in US stockpiles, signaling a tighter physical market.

Oil rose above $81 a barrel, buoyed by general risk-on sentiment, as the first of a spate of supply-and-demand projections scheduled this week forecast a modest rise in US production.

Oil rose as a drawdown in US crude inventories extended a rally that has been supported by a hot streak for equity markets.

Oil rose after a government report showed the US is exporting a record number of crude and refined products as the market waits to learn whether nuclear negotiations will clear a path for Iran to sell more oil.