Oil Prices Surge as OPEC’s Compliance with Cuts Improves

Physical oil markets are also strong, with top exporter Saudi Arabia expected to hike December crude prices for customers in Asia to levels last seen in 2013 or 2014, a Reuters survey showed.

Brent futures, the international benchmark for oil prices, were at $61.32 per barrel at 0759 GMT, up 38 cents, or 0.6 percent, since their last close and near the $61.41 a barrel two-year high from intraday trading on Tuesday. Brent is up almost 40 percent since its 2017-lows last June.