Crude oil trading was stable as the September market session opened, with investors now awaiting the OPEC+ meeting which will discuss production today.
US WTI traded higher at $ 69 a barrel, while Brent crude traded higher around $ 72.10 a barrel as the market headed into the opening of the European session.
The Organization of the Petroleum Exporting Countries (OPEC) and its ally, Russia or known as OPEC+ are expected to ratify plans to increase production by 400,000 barrels a day in October.
Meanwhile, a report on Tuesday from the American Petroleum Institute (API) showed a more -than -expected decline in U.S. crude oil inventories with a decline of 4 million barrels last week.
After witnessing this encouraging reading, investors are now expecting official data to be released by the US Energy Information Administration (EIA) will also show a reduction in US crude oil supplies.
Meanwhile, 94% of oil and natural gas production in the Gulf of Mexico is still on hold after Hurricane Ida hit over the weekend.
