Oil prices rose on Monday as investors were optimistic that supply and demand of the global crude market will be more balanced.
The Organization of the Petroleum Exporting Countries (OPEC) will meet on Dec. 5 in Vienna and also talk with other major oil exporters including Russia.
The OPEC and its allies are largely expected to extend its supply cut to mid-2020.
The West Texas Intermediate (WTI) for January delivery increased 0.24 U.S. dollar to settle at 58.01 dollars a barrel on the New York Mercantile Exchange. Brent crude for January delivery rose 0.26 dollar to close at 63.65 dollars a barrel on the London ICE Futures Exchange.
Editor:Cherie
