Brent oil rises after OPEC-led supply cut deal, but outlook remains weak:: (WWW.COMMODITYBAZAAR.CO)

Brent crude oil prices climbed on Monday after producer club OPEC and some non-affiliated suppliers last Friday agreed a supply cut of 1.2 million barrels per day (bpd) from January.

Despite this, the outlook for next year remains muted on the back of an economic slowdown.

International Brent crude oil futures were at $61.96 per barrel at 0451 GMT, up 29 cents, or 0.5 percent, from their last close.

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