Oil Advances as Major Producers Expected to Keep Output Cuts in Place

OIL PRICE - NEW DELHI. Oil prices rose in Asian trading on Wednesday on expectations major producers will maintain output cuts at a meeting this Sunday, and that fuel consumption should begin rising with the start of the peak summer demand season.

Brent crude futures for July delivery added 15 cents, or 0.2%, to $84.37 a barrel by 0304 GMT. U.S. West Texas Intermediate futures for July climbed 25 cents, or 0.3%, to $80.08. Both benchmarks gained more than 1% a day earlier.