Crude oil futures rallied Friday after OPEC producers voted to extend supply cuts through 2018.
Jan. WTI oil climbed by 96 cents, or 1.7%, to settle at $58.36/bbl. Prices were down 1% this week.
Baker Hughes on Friday reported that the total active U.S. rig count, which includes oil and natural-gas rigs, added 6 to 929, according to Baker Hughes.
Earlier in the week, the government reported that U.S. oil stockpiles dropped sharply for a second week in a row.
The material has been provided by InstaForex Company – www.instaforex.com