Brent crude was up 14 cents, or 0.2%, at $72.83 by 0123 GMT.
Oil prices held near multi-year highs on Monday, underpinned by an improved outlook for demand as increased COVID-19 vaccinations help lift travel curbs.
Brent crude was up 14 cents, or 0.2%, at $72.83 by 0123 GMT. It rose 1.1% last week and hit the highest since May 2019 of $73.09 on Friday, as reported by Reuters.
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The Organization of the Petroleum Exporting Countries (OPEC) and allies, known as OPEC+, need to increase output to meet recovering demand, the International Energy Agency (IEA) said in its monthly report on Friday.
The OPEC+ group has been restraining production to support prices after the pandemic wiped out demand in 2020.