Oil climbs as suppliers stick to output cuts, coronavirus lockdowns ease

OPEC+ countries are set to meet again in early June to discuss maintaining their supply cuts to shore up prices, which are still down around 45% since the start of the year

Oil prices rose on Tuesday on clear signs that producers are sticking to commitments to cut crude supply as more cars get back on the road with coronavirus lockdowns easing around the world.

US West Texas Intermediate (WTI) crude futures gained 2.3%, or 75 cents, to $34.00 as of 0057 GMT. There was no WTI settlement on Monday because of the U.S. Memorial Day holiday.

Brent crude futures inched up 0.7%, or 23 cents to $35.76, adding to a 1.1% gain on Monday in thin holiday trading.

The market was buoyed by comments from Russia reporting its oil output had