Oil prices climbed on Friday after tumbling 5 per cent in the previous session on signs OPEC's production cuts that start next month will be deeper than expected.

Oil prices rise over OPEC output cuts

US oil prices stabilised on Wednesday after slumping more than 6 per cent the previous day, with some support coming from a report of an unexpected drop in US commercial crude inventories.

International oil prices stabilise as OPEC production cut looms

Ministers confirmed the cut in oil production has been secured from 33.8 million barrels a day to 32.5 million barrels

OPEC countries agree to first production cut in 8 years

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opec production-cut

Oil prices rise over OPEC output cuts

International oil prices stabilise as OPEC production cut looms

OPEC countries agree to first production cut in 8 years