Oil Prices Rebound Some Ahead of OPEC Meeting

Oil prices rose modestly in Asian trading Thursday after declines all week as investors awaited a meeting of the Organization of the Petroleum Exporting Countries, where an extension to ongoing production caps is anticipated to be approved.

--January light, sweet crude on the New York Mercantile Exchange was recently up 0.2% at $57.44 a barrel in the Globex trading session. February Brent rose 0.3% to $62.74.

--Many investors have anticipated the current output agreement will be extended by another nine months, to the end of 2018. But some doubts have emerged of late that Russia could seek to soften the deal. Any such sign could easily spark a selloff, analysts say.

Write to Biman Mukherji at biman.mukherji@wsj.com

(END) Dow Jones Newswires

November 29, 2017 23:34 ET (04:34 GMT)