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Oil rises to near 2015 highs after OPEC extends output cuts

Reuters  |  NEW YORK 

By Scott DiSavinoNEW YORK (Reuters) - Oil climbed on Friday, approaching its highest level since the summer of 2015 a day after OPEC and other major producers agreed to continue reining in output until the end of 2018 to try to reduce the global oil glut and boost prices.The Organization of the Petroleum Exporting Countries and some non-OPEC producers led by Russia agreed on Thursday to keep current limits on output in place until the end of next year, although they signalled a possible early exit from the deal should the market overheat and prices rise too far.Brent futures were trading at ...

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First Published: Fri, December 01 2017. 23:49 IST