Brent crude oil futures inched up to $64.5 per barrel on Friday, as concerns of military escalation in Venezuela momentarily outweighed the view of an oversupplied energy market. Petrol-derived commodities rose on the risk that the US may strike Venezuela, adding to supply pushbacks in the near term after the Trump administration sanctioned Rosneft and Lukoil to hamper the flow of crude oil and refined fuel to Asia. Still, soaring output and tanker flow maintained the broader backdrop of ample oil availability. OPEC+ nations are set to confirm an increase of 137,000 barrels per day in the cartel's output for December to extend their efforts to recover market share. This was aligned with soaring production levels signaled by companies with operations in the US and North Sea. Additionally, volumes of oil in tankers at sea rose to a record high of 1.4 billion barrels this week, raising the outlook on global inventories.