Crude oil prices were up on Wednesday as the upcoming meeting between OPEC and its allies, known as OPEC+, give hope to investors of potential support to prices.

International benchmark Brent crude was trading at $32.32 per barrel at 0620 GMT for a 1.4% increase after it closed Tuesday at $31.87 a barrel.

American benchmark West Texas Intermediate (WTI) was at $24.72 a barrel at the same time for a 4.6% gain after ending the previous day at $23.63 per barrel.

The oil producing member countries of OPEC+ will hold a teleconference on Thursday to discuss the low price

Read more: Oil prices gain as OPEC meeting looms