Crude prices rose Friday on better-than-expected U.S. GDP data while the Organization of Petroleum Exporting Countries (OPEC) warned to cut more output.
The Commerce Department reported the U.S. economy shrank at a 3.8 percent pace at the end of 2008, which was not as bad as economists had expected.
The OPEC, which promised last year that it would slash production by 4.2 million barrels a day, said the cartel may cut production even more.
Light, sweet crude for March rose 24 cents to settle at 41.68 dollars a barrel on the New York Mercantile Exchange.
In London, the March Brent contract rose 48 cents to settle at 45.88 dollars on the ICE Futures exchange.
The Commerce Department reported the U.S. economy shrank at a 3.8 percent pace at the end of 2008, which was not as bad as economists had expected.
The OPEC, which promised last year that it would slash production by 4.2 million barrels a day, said the cartel may cut production even more.
Light, sweet crude for March rose 24 cents to settle at 41.68 dollars a barrel on the New York Mercantile Exchange.
In London, the March Brent contract rose 48 cents to settle at 45.88 dollars on the ICE Futures exchange.
