SINGAPORE: Oil prices eased by about one dollar in Asian trade on Friday after big gains on anticipation that Russia and OPEC will cut production to bolster prices, dealers said.
New York's main contract, light sweet crude for January delivery, dropped 91 cents to $47.07 a barrel after rising $4.46, more than 10 per cent, to $47.98 at the close of trading yesterday on the New York Mercantile Exchange.
Brent North Sea crude for January fell 84 cents to $46.55 after rising $4.99, or 11.77 per cent, to $47.39 in London yesterday. - PTI
