Oil prices rise ahead of OPEC meeting
Baghdad - Agencies
Oil prices rose slightly as traders looked to the OPEC meeting next week, during which major oil exporters are expected to extend production cuts, but expectations of increased production in the US are holding back gains.
Brent crude futures were $ 62.34 a barrel at 1145 GMT, up 12 cents, while West Texas Intermediate crude was up 14 cents at $ 56.56.
OPEC and a number of independent producers, led by Russia, have cut output this year in an attempt to curb global supply glut and boost prices.
It is widely expected at next week's meeting that the organization will extend the agreement beyond its March 2018 deadline.
"There is a general belief that any decision other than the extension could have a very negative impact ... so the market is looking for confirmation that Opec wants to move towards the extension," said Saxony Bank chief Olli Hansen.