Oil prices traded roughly flat in light volumes on Friday, staying near their highest levels since 2015 on pledges from OPEC leader Saudi Arabia and non-OPEC Russia that any exit from crude output cuts would be gradual.
U.S. West Texas Intermediate (WTI) crude futures ended Friday's session 11 cents higher at $58.47.
Brent crude futures, the international benchmark for oil prices, ended the session up 35 cents at $65.25 a barrel, its highest close since June 2015.
Both contracts settled one hour early due to the upcoming Christmas holiday. Market liquidity was also drying up on Friday as traders closed positions ahead of the Christmas and New Year breaks.
About 280,000 front-month U.S. crude futures changed hands while front-month Brent crude futures saw the lowest trade volumes in about seven months, excluding expiration days.