According to a Reuters survey, the Organization of the Petroleum Exporting Countries' (OPEC) oil production rose in November due to higher output from Iraq. OPEC's oil output increased to 31.77 million barrels per day (bpd) from 31.64 million in October.
Saudi Arabia produced 10.25 million bpd in November.
Oil output fell in Angola, Libya and Nigeria, while oil output from Iran remained unchanged.
OPEC increased its oil production by about 1.50 million bpd since November 2014.