OPEC meeting on Sunday in focus
Two Chinese cities ease COVID curbs
Fed comments on possible rate hike slowdown weaken dollar
U.S. crude inventories fall more than expected

LONDON, Dec 1 Reuters Oil rose on Thursday supported by investor wariness that OPEC may cut supply further at its meeting on Sunday and as easing COVID curbs in China raised hopes about higher demand in the world39;s top crude importer.

Crude gained further support, and the U.S. dollar weakened, after the Federal Reserve Chair opened the door to a slowdown in the pace of rate hikes. Dollar weakness makes oil cheaper for other currency holders and tends to support risk assets.

The Organization of the Petroleum Exporting Countries and allies including Russia, known as OPEC, meets on Dec. 4. While sources said on Wednesday a policy change was unlikely, some analysts say a further cut cannot be ruled out.

Oil is finding support on investor optimism that OPEC will deliver further cuts in production when they meet, said Ehsan Khoman, analyst at MUFG Bank, in a report.

Brent crude was up 44 cents, or 0.5, to 87.41 a barrel by 0918 GMT, while U.S. West Texas Intermediate crude futures added 55 cents, or 0.7, to 81.10.

Both benchmarks have posted three consecutive weekly declines, although the market has rebounded strongly this week after hitting the lowest in nearly a year on Monday. Brent then touched a low of 80.61, the lowest since Jan. 4.

The prospect of a lower price cap on Russian oil was…