Mubasher: Oil prices rose on Friday, a day after the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC members, led by Russia, agreed on extending oil output curbs until the end of 2018.
By 10:15 GMT, Brent Crude (ICE) futures went up 0.8% to $63.15 per barrel (pb).
Meanwhile, WTI Crude Oil (Nymex) futures edged up 0.8% to $57.83 pb.
On a monthly basis, the prices of Brent Crude and the US light crude rose by about 3.6% and 5.6%, respectively, in November, in line with the anticipation of OPEC’s decision.
In May, OPEC decided to extend oil output cuts by 1.8 million barrels per day until the end of March 2018.
