Oil Updates — Crude slightly up; Iraq minister says OPEC monitoring oil prices; Qatar oil industry faces inflationary pressures

RIYADH: Oil prices rose on Tuesday, after plunging to nine-month lows a day earlier, on indications that the Organization of the Petroleum Exporting Countries, known as OPEC, may enact output cuts to avoid a further collapse in prices.

Brent crude futures for November settlement rose 65 cents, or 0.77 percent, to $84.71 per barrel by 0502 GMT. 

US West Texas Intermediate crude futures for November delivery were up 64 cents at $77.35 per barrel.

OPEC monitoring oil prices, seeks market balance: Iraq oil minister