Black commodity prices soared sharply after falling to a 5-month low on Monday weakened by concerns over the prospect of global demand due to recent sanctions in Europe.
However, the price movement is backed by Russian Energy Minister Alexander Novak's statement signaling to extend plans to increase oil production by early 2021.
Novak said that he would discuss the OPEC + production cut agreement with the heads of Russian oil companies.
OPEC + has so far been committed to a production cut commitment of 7.7 million barrels a day to support prices.
The group is scheduled to hold policy meetings on November 30 and December 1, with some analysts expecting delays in plans to ease production starting January 2021.
In the Asian session, Brent crude futures traded stable at $ 38.86 a barrel after jumping 2.7% in the previous session, while the US WTI rose 2.9% before trading at $ 36.77 a barrel.
The resurgence of crude oil prices also prompted the Canadian dollar trade to rebound against the US dollar.
