Oil prices rose Tuesday as investors placed bets on whether OPEC oil ministers would increase production during a meeting later this week.

High prices were supported by comments from Iranian President Mahmoud Ahmadinejad that he opposes a production increase by the OPEC, as well as Libya's oil chief, Shukri Ghanem, who said he does not think the cartel will raise output.

Oil ministers, gathering to meet on Wednesday, have adopted a coordinated line to insist that supplies are sufficient to meet winter fuel demand and that high prices are driven by factors outside OPEC's control.

Light, sweet crude for January delivery gained 36 cents to $89.67 a barrel in electronic trading on the New York Mercantile Exchange.

Oil prices have dropped about $10 in one week on the belief that OPEC has all but decided to raise production. But the price decline itself has raised questions about whether the OPEC will follow through during Wednesday's meeting in Abu Dhabi.

Recent OPEC comments about production increases have been divided, with ministers from Venezuela and Qatar suggesting there's no need to boost supplies, while ministers from Indonesia, Nigeria and Kuwait say they're still open to increases.