Oil prices reached a 10-month high of US$95.34.
The hike was in reaction to Saudi Arabia and Russia announcing they will cut production through the end of the year.
The international benchmark, Brent Crude Oil, reached $95.34 cents on Tuesday, the highest since November 2022.
Brent Crude’s per-barrel price broke the $90 price mark for the first time since November, according to Reuters.