Oil prices rise ahead of OPEC meeting

New York Nov 22 (IANS) Oil prices climbed on Tuesday as investors were awaiting the closely-watched OPEC (Organisation of the Petroleum Exporting Countries) meeting next week a media report said.

OPEC and other key oil producers will meet on November 30 to discuss whether to extend the current price-supporting curbs on crude output Xinhua news agency reported.

In a bid to end a global oversupply the group has been restraining output since the start of this year.

It is expected that the agreement will be extended to cover the next year.

Meanwhile a weak dollar boosted market sentiment for the dollar-priced oil. The dollar index which measures the greenback against six major peers was down 0.14 per cent at 93.92 in late trading.

--IANS
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