Oil prices rise amid expectations of OPEC production cuts

Oil prices hovered near their highest since mid-2015, underpinned by a deal between the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC members to cut output by almost 1.8 million barrels per day (bpd) from January 1, 2017.Analysts said, however, that oil may struggle to rally further before there is evidence that OPEC is complying with pledged output cuts.US benchmark West Texas Intermediate (WTI) crude for February delivery rose 88 cents to settle at US$53.90 a barrel on the New York Mercantile Exchange.Global benchmark Brent North Sea crude for February delivery gained 93 cents to close at US$56.09 a barrel on the London ICE Futures Exchange.
Editor: Ade Marboen
http://www.antaranews.com/berita/603778/harga-minyak-dunia-naik-jelang-pemangkasan-produksi-opec