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Oil rises more than 1 percent before OPEC meeting

Reuters  |  NEW YORK 

By Stephanie KellyNEW YORK (Reuters) - Oil prices rose more than 1 percent on Wednesday ahead of a meeting of the world's biggest exporters who will discuss cutting output to help shore up prices and curb excess supply.The Organization of the Petroleum Exporting Countries, Russia and other producers will meet in Vienna this week to discuss a potential cut in production. Saudi Arabia has indicated it wants OPEC and its allies to cut output by at least 1.3 million barrels per day. Russian Energy Minister Alexander Novak told reporters he had held a "good" meeting with his Saudi counterpart ...

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First Published: Wed, December 05 2018. 22:04 IST
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