Oil prices are back above $59 a barrel, after confirmation from the United Arab Emirates (UAE) that it will follow Saudi Arabia and cut output next month.
The move, which calmed speculation that Saudi Arabia's fellow Opec members might not follow its lead, saw US light crude rise 64 cents to $59.35 a barrel.
London's Brent traded up 65 cents to $59.86 in Europe on the news.
Opec agreed a 1.2 million barrel per day cut last week, but some members appeared to be dragging their feet.
'Call for reason'
This led to speculation that some of Opec's 11 member nations did not want the short-term loss of revenue, despite the cut being agreed in an attempt to stabilise prices.
But Abu Dhabi, the UAE's largest oil producer, said it would cut daily output by 100,000 barrels - equivalent to 5% of its total exports.
"We're getting confirmation that some of the cuts are for real"
"Over the weekend we had the Saudis informing (us) of cuts and now the UAE is doing the same," said Olivier Jakob of Petromatrix.
"We're getting confirmation that some of the cuts are for real."
The cost of a barrel of oil has fallen 20% since hitting a peak of $78 in July, against the backdrop of the conflict in southern Lebanon.
Policymakers are concerned about renewed volatility in the oil market with the possibility of a sharp rebound following recent falls.
US Energy Secretary Sam Bodman called on OPEC members to be "reasoned and measured in any changes they make in the availability of oil" going forward.
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