Oil prices surged higher on Friday on support among the world's top producers for extending a deal to cut output.
Brent crude rose as high as $60.53, its highest level since July 3, 2015. It was up $1.02, or 1.7 percent, at $60.32 by 2:23 p.m. ET (1823 GMT).
U.S. light crude oil ended Friday's session up $1.26, or 2.4 percent, at $53.90, closing at an 8-month high going back to Feb. 28.
Ahead of OPEC's next policy meeting, Saudi Arabia and Russia declared their support for extending a global deal to cut oil supplies for another nine months, OPEC's secretary general told Reuters on Friday. The pact runs to March 2018.
Saudi Arabia's Crown Prince Mohammad bin Salman told Reuters on Thursday the kingdom would support extending the output cut in a bid to stabilise oil demand and supply.