Oil rose to $62 a barrel on Tuesday, close to its 2015 high, supported by threats to Middle East supplies and expectations lower prices may prompt a slowdown in US output.

Oil rose to $62 a barrel on Tuesday, close to its 2015 high, supported by threats to Middle East supplies and expectations lower prices may prompt a slowdown in US output.

Egypt on Monday bombed ISIL targets in Libya, where violence has reined in most oil output, and Iraq's semi-autonomous Kurdistan Regional Government threatened to withhold oil exports if Baghdad failed to send its share of the budget.

"The low oil prices are forcing a reduction of drilling rigs in the US but also of budgets in oil-exporting countries," said Olivier Jakob, oil analyst at Petromatrix.

"Libya is already mostly out in terms of production. Libya and Yemen are getting closer to the day of outside military intervention."

Brent crude rose 65 cents to $62.05 a barrel by 0949 GMT. It reached a 2015 high of $62.57 on Monday. US crude was 60 cents higher at $53.38 a barrel.

Oil prices collapsed in the second half of 2014 on oversupply. The Organization of the Petroleum Exporting Countries refused to cut its output, choosing to defend market share against US shale oil and other competing sources.

Brent has jumped by almost 40 percent in the last four weeks, supported by a sharp fall in US oil drilling. It had reached $45.19 on Jan. 13, the lowest in almost six years, down from $115 in June.