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Oil prices surge as OPEC's compliance with cuts improves

Reuters  |  SINGAPORE 

By Henning GloysteinSINGAPORE (Reuters) - Oil prices rose to near recent highs on Wednesday as data showed OPEC has significantly improved compliance with its pledged supply cuts and Russia is also seen keeping to the deal.Brent futures, the international benchmark for oil prices, were at $61.32 per barrel at 0759 GMT, up 38 cents, or 0.6 percent, since their last close and near the $61.41 a barrel two-year high from intraday trading on Tuesday. Brent is up almost 40 percent since its 2017-lows last June.U.S. West Texas Intermediate (WTI) crude was at $54.95 a barrel, up over half a dollar, ...

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First Published: Wed, November 01 2017. 13:37 IST
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