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NEW YORK, Oct. 21 (Xinhua) -- Oil prices ended mildly higher Friday as traders expected that major crude producers will strike firm deal late next month to curb output.
Russian energy minister Alexander Novak reiterated the need for coordinated action among major oil producers to stem a two-year slide in prices, according to media reports.
Novak said he' s traveling to Saudi Arabia over the weekend to make some proposals, before meeting with Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC) Mohammad Barkindo on Monday.
OPEC will hold a meeting on Nov. 30 to find common ground on capping oil production. The cartel is expected to work out how each member country will contribute to a freeze at the gathering.
Meanwhile, oilfield services company Baker Hughes reported Friday that the number of rigs operating in U.S. fields rose by 11 to 443 last week, marking the 16th increase in the past 17 weeks.
The West Texas Intermediate for December delivery rose 0.22 U.S. dollar to settle at 50.85 dollars a barrel on the New York Mercantile Exchange, while Brent crude for December delivery increased 0.40 dollar to close at 51.78 dollars a barrel on the London ICE Futures Exchange. Enditem
