While they rose for the fourth consecutive session on Friday, due to tighter supply and expectations from the OPEC+ group of oil producers extending production cuts through the end of the year, oil prices are poised to end a two-week series of losses.

In early Asian trading, major referrals rose slightly, with American West Texas Intermediate (WTI) crude up 7 cents, or 0.1%, at $83.70 per barrel, while Brent crude was also up 7 cents at $86.90 per barrel at 0107 GMT. Analysts expect Saudi Arabia to extend its voluntary reduction in oil production by 1 million barrels per day until October

In addition, U.S. crude oil inventories fell by 10.6 million barrels last week, which is more than expected, due to increased exports and refinery activity, according to government data released on Wednesday. Commercial crude oil inventories have fallen by 34 million barrels since mid-July