International oil prices rose over 1% on May 28. Investors had expected OPEC+ member countries to agree to a production increase at a meeting on May 31, while OPEC+ is highly likely to maintain its current output policy unchanged.

Besides, the US ban on Chevron exporting Venezuelan crude raised market concerns about supply.

West Texas Intermediate (WTI) crude for July delivery increased by US$0.95 (1.56%), reaching US$61.84/barrel on the New York Mercantile Exchange. Brent crude for the July delivery rose by US$0.81 (1.26%), settling at US$64.90/barrel.