Price of light American crude oil rises in Asia

Prices of forward deals of the light American crude oil, for January's delivery, climbed in the Asian trades, 0.62 percent, reaching USD 76.32 per barrel on Friday, as compared to Thursday's rates.
The Brent forward transactions for January's delivery rose 0.37 percent cents, today, to USD 79.62 pb, also in contrast to the Thursday rates.
Price difference between the light American crude and the Brent crude amounted to USD 3.3.
Rise of the American crude price in the Asian markets came against backdrop of US fresh and positive reports, forecasting a deal among OPEC's crude producers to slash the output, during next week's meeting Vienna.
Meanwhile, the US economic indices showed robust trade transactions in the leading fuel consuming nation.
All eyes are pinned to the forthcoming OPEC meeting, during which the strategists would examine drastic fall of the oil prices that have fallen by a third since June.
Venezuela, a major oil exporter, has called for cooperation among the OPEC and non-OPEC producers to tackle the prices and keep a grip on the markets.