TODAY OIL NEWS UPDATED BY ( www.commoditybazaar.co)

Oil prices edged higher on Wednesday in Asia after the Organization of the Petroleum Exporting Countries (OPEC) agreed to extend output cuts.

U.S. Crude oil WTI futures  were up 0.2% to $56.38 by 12:56 AM ET (04:56 GMT). International Brent oil futures  also gained 0.2% to $62.55.

All OPEC and non-OPEC members including Russia voted unanimously to pass the nine-month extension of their agreement to cut production by 1.2 million barrels per day in the last day of meetings in Vienna on Tuesday.

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