Price have been kept in check by expectations that the Organization of the Petroleum Exporting Countries and its allies including Russia, know as OPEC+, will boost its August crude oil output by an amount similar to the outsized hikes agreed in May, June, and July.

Oil prices steadied on Tuesday after sliding earlier in the session, with the market weighing expectations of an OPEC+ output hike in August in an upcoming meeting.Brent crude rose 10 cents, or 0.2 per cent,