BLOOMBERG - OPEC and its allies outside the group agreed to maintain oil production cuts until the end of 2018, extending their campaign to wrest back control of the global market from America’s shale industry.

INVESTOPEDIA - The Koch brothers have become well-known for their libertarian and conservative politics, and are often portrayed as significant personalities that impact elections and government decisions.

REUTERS - U.S. West Texas Intermediate (WTI) crude futures were at $57.67 a barrel at 0427 GMT, down 32 cents, or 0.6 percent below their last settlement. Brent crude futures, the international benchmark for oil prices, were at $63.14 a barrel, down 47 cents, or 0.7 percent.

BLOOMBERG - Implied volatility, a gauge of expected price moves, dropped to about 22 percent on Friday for New York-traded crude. That was the lowest level since early March and close to a three-year low. Other gauges of turbulence have also traded at multi-year lows since the start of October, despite the escalating tensions and meetings this week in Vienna, where OPEC and allied oil-producer states will discuss the extension of supply curbs that propped up the market.

OGJ - Phase II production from Weizhou 12-2 oil field has been brought on stream, CNOOC Ltd. said of its project in Beibu Gulf in the South China Sea.

OGJ - Total SA announced Nov. 27 that the Petroleo Brasileiro SA (Petrobras)-led Libra consortium has brought production on stream in ultradeep waters 180 km offshore Rio de Janeiro in Brazil’s presalt Santos basin.

BLOOMBERG - West Texas Intermediate for January delivery was at $58.51 a barrel on the New York Mercantile Exchange, down 44 cents, at 10:22 a.m. London time. Total volume traded was about 24 percent above the 100-day average. Prices gained 93 cents to $58.95 on Friday, capping a 4.2 percent weekly advance. Brent for January settlement fell 21 cents to $63.65 a barrel on the London-based ICE Futures Europe exchange, after rising 1.8 percent last week. The global benchmark crude traded at a premium of $5.11 to WTI.

BLOOMBERG - Global crude inventories are declining and supply and demand are in balance, according to the head of Saudi Aramco, while the United Arab Emirates energy minister said U.S. shale oil doesn’t threaten OPEC’s efforts to support the market.

BLOOMBERG - WTI for January delivery was at $58.43 a barrel on the New York Mercantile Exchange at 1:25 p.m. in Singapore, up 41 cents. The contract added $1.19 to $58.02 on Wednesday. There was no settlement Thursday because of the Thanksgiving holiday in the U.S. and all transactions will be booked Friday. Brent for January settlement lost 14 cents, or 0.2 percent, to $63.41 a barrel on the London-based ICE Futures Europe exchange. Prices rose 23 cents to $63.55 on Thursday. The global benchmark crude traded at a premium of $4.98 to WTI.

REUTERS - The Organization of the Petroleum Exporting Countries, non-member Russia and nine other producers agreed to curb oil output by about 1.8 million barrels per day until March 2018. They are expected to extend the deal at a Nov. 30 meeting in Vienna.