Oil prices higher in Asia

SINGAPORE: Oil rose in Asian trade Friday amid expectations OPEC will cut production at an emergency meeting in Vienna, but falling global demand should limit any price increase, analysts said.

New York's main contract, light sweet crude for December delivery, climbed 50 cents to 68.34 dollars a barrel from its close in the United States on Thursday.

Brent North Sea crude for December delivery was 58 cents higher at 66.50 dollars. The Organisation of the Petroleum Exporting Countries (OPEC), meeting in Vienna on Friday, is set to announce a cut to oil output in a bid to shore up prices, which have been plunging as fears of a global recession hit demand.