Oil climbed on Friday, approaching its highest level since the summer of 2015 a day after OPEC and other major producers agreed to continue reining in output until the end of 2018 to try to reduce the global oil glut and boost prices.
The Organization of the Petroleum Exporting Countries and some non-OPEC producers led by Russia agreed on Thursday to keep current limits on output in place until the end of next year, although they signaled a possible early exit from the deal should the market overheat and prices rise too far.
U.S. light crude ended Friday's session 96 cents, or 1.7 percent, higher at $58.36, but finished the week 1 percent lower.
Brent was trading at $63.67, up $1.04, or 1.7 percent on the day. For the week, the contract was down nearly half a percent.
Oil prices pared gains as the broader market sold-off in the wake of a report that former U.S. National Security Adviser Michael Flynn will testify that President Donald Trump directed him to hold talks with Russians.