Meanwhile, West Texas crude for August delivery rose slightly to USD 74.90.
The rise in oil prices is due to the possibility of reducing offered oil in the upcoming days.
Saudi Arabia and Russia, one of the top oil-producing countries, have recently announced an additional reduction in voluntary production for August.
Saudi decided to extend the reduction limited at one million barrels a day, which started this month, to include August with the possibility of further extension.
Russia on the other hand announced it will reduce production for August by 500,000 barrels a day.
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