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The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, look set to cut output when they meet on Wednesday. The move would squeeze supply in an oil market that energy company executives and analysts say is already tight due to healthy demand, a lack of investment and supply problems.

Government spokesman Olivier Veran acknowledged "tensions" but said there was no shortage of fuel stocks at a national level. He urged consumers not to panic-buy petrol.

OPEC's de-facto leader Saudi Arabia said the cut of 2 million barrels per day (bpd) of output - equal to 2% of global supply - was necessary to respond to rising interest rates in the West and a weaker global economy.

Prices also rose on U.S. government data that showed crude and fuel inventories fell last week.

India, also the world's third-biggest oil importer, ships in about 85% of its crude needs, but is gradually building capacity to increase its output of biofuels.

Musk told a post-earnings call that all full self-driving users in North America will get an Autopilot feature at the end of the year, adding that while its cars are not ready to have no one behind the wheel, drivers would rarely have to touch the controls.

The price cap plan calls for G7 countries to deny insurance, finance, brokering, navigation and other services to oil cargoes priced above a yet-to-be-determined price cap on crude and oil products.

Mercedes will receive on average 10,000 tons of battery-grade lithium hydroxide per year.