an oil pump jack pumps oil in a field near calgary alberta canada on july 21 2014 reuterstodd korolfile photo singapore sept 5 reuters  oil prices jumped more than 1 a barrel on monday extending gains as investors eyed possible moves by opec producers to tweak production and support prices at a meeting later in the day brent crude futures rose 143 or 15 to 9445 a barrel by 0054 gmt after gaining 07 on friday us west texas intermediate crude was at 8812 a barrel up 125 or 14 following a 03 advance in the previous session us markets are closed for a public holiday on monday oil prices have fallen in the past three consecutive months after touching multiyear highs in march on concerns that interest rate hikes and covid19 curbs in parts of china the worlds top crude importer may slow global economic growth and cool oil demand read more at their meeting later on monday the organization of the petroleum exporting countries opec and its allies a group known as opec may decide to keep current output levels or even cut production to bolster prices despite supplies remaining tight read more while we expect the group to keep output unchanged the rhetoric may be bullish as it looks to arrest the recent fall in prices anz analysts said in a note russia does not support an oil production cut at this time and it is likely opec will keep its output steady when it meets monday the wall street journal reported on sunday citing unidentified people familiar with the matter read more meanwhile negotiations dragged on in attempts to revive the revival the wests 2015 nuclear deal with iran an agreement to do so could allow tehran to increase exports and improve global supplies the white house on friday rejected linking the deal with the closure of investigations by the un nuclear watchdog a day after iran reopened the issue according to a western diplomat read more