Oil prices still getting support from OPEC and non-OPEC production cuts, which agreed to reduce production by about 1.8 million barrels per day in the first half of 2017. According to estimates of the International Energy Agency, OPEC has already fulfilled its obligations by an average of 90% in January, and this figure could rise as Iraq and the UAE, which previously not planing to cut production, promised to speed up the work.

May futures for Brent crude oil rose by 0.64%, to $ 56.92 per barrel. April futures for WTI crude oil increased by 0.65%, to $ 54.34 per barrel.