Oil rose further above $60 a barrel on Wednesday, supported by expectations that OPEC and its partners will next week decide to curb supply and helped by a drop in North Sea output.
The Organization of the Petroleum Exporting Countries plus Russia and other allies meet on December 6-7. Producers are discussing a supply curb of 1 to 1.4 million barrels per day and possibly more, OPEC delegates have told Reuters.
Brent crude, the global benchmark, was up 53 cents at $60.74 a barrel at 0919 GMT and traded as high as $61.27. Read More
Latest posts by CNBC (see all)
- To increase rural consumption, government pushes 5 kg LPG cylinder under Ujjwala scheme - December 13, 2018
- Brent oil rises after deal to cut supply, but 2019 outlook weakens - December 10, 2018
- Brent oil prices rise after OPEC-led group announces 1.2 million bpd supply cut - December 10, 2018