Oil climbs over 2% as OPEC seen deepening cuts

HOUSTON: Oil prices climbed more than 2% on Monday as further supply cuts in OPEC+ production are expected to be announced following a meeting of member countries early next week.

Brent crude futures settled up $1.71, or 2.1%, at $82.32 a barrel.

The front-month December West Texas Intermediate crude (WTI) expired at $77.60, up $1.71, or 2.3%. The more active January futures gained $2.39 to $77.83, up 1.8%.