Crude oil prices opened with gains during the new year’s trading on Thursday as the global oil market awaits the impact of additional production cuts by members of OPEC and its allies to trim the glut of oil supply around the world.

International benchmark Brent crude was trading at $66.22 per barrel at 0635 GMT on Thursday for a 0.33% gain after it closed on Dec. 31 at $66 a barrel.

American benchmark West Texas Intermediate traded at $61.20 a barrel at the same time for a 0.23% increase after it ended 2019 at $61.06 per barrel.

Read more: Oil prices start 2020 higher as market awaits OPEC cuts