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0214 GMT — Oil prices are slightly higher in early Asian trading amid improved sentiment. The decision by OPEC+ to delay planned output increases by two months eases supply concerns, ANZ Research analysts say in a note. They say the decision isn’t surprising, as oil prices have been under tremendous pressure in recent months. Although the postponement lowers the chances of the oil market

Libya’s rival political factions agreed to a road map to appoint a central bank governor, a tentative step toward easing a deadlock that’s led to the halt of much of the OPEC nation’s oil production. The two legislative bodies, the Tripoli-based High State Council in the west and the House of Representatives in Benghazi to the east, are to appoint a governor and board of directors within 30

Oil steadied as investors weighed disruptions to Libyan output against concerns over the outlook for China’s weakening economy.

West Texas Intermediate was little changed from Friday’s close near $74 a barrel following a holiday in the US. Brent settled below $78. Libya’s state oil firm declared force majeure at the El-Feel field, with an escalating power struggle in the OPEC member

OPEC+ pledged on Thursday to increase oil production further after resisting repeated calls by the Biden administration and other nations to do so to tame high prices.

The cartel, which includes nonmember Russia, committed to raising its collective production by 648,000 barrels per day beginning in July, a roughly 200,000-barrel-per-day increase from its recent monthly production