Crude oil prices showed gains at the start of trading Wednesday as Britain's largest oilfield in the North Sea was shut down, hampering supply into the global market,
Gains were also supported with expectations of some output cuts at OPEC's December meeting to balance the market.
The Buzzard oilfield in the North Sea was shut down temporarily due to pipeline corrosion, cutting off 150,000 barrels per day (bpd) of supply, according to recent international media reports. The Elgin-Franklin field in the region was also closed for maintenance.
Due to the closures, three cargoes scheduled to load next month, each with 600,000 barrels of oil, have been cancelled, the reports said.
Global benchmark Brent crude gained 0.2 percent to trade at $61.20 per barrel at 0610 GMT, after it ended Tuesday at $61.05 a barrel.
American benchmark West Texas Intermediate cost $52.23 a barrel at the same time with a 0.3 percent rise, after closing Tuesday at $52.07 per barrel.
Crude oil prices fell more than 30 percent since the beginning of October.
OPEC is expected to cut 1.2 million bpd to 1.4 million bpd of production in its meeting in Vienna on Dec. 6, according to analysts. The cartel's heavyweight Saudi Arabia could carry the burden by cutting 1 million bpd alone, not to attract criticism from the U.S. President Donald Trump, according to some experts.
Trump last week thanked the kingdom for keeping oil prices low, and reaffirmed his support for the country despite the killing of journalist Jamal Khashoggi.
By Ovunc Kutlu
Anadolu Agency
energy@aa.com.tr