New York's main contract, light sweet crude for December delivery, surged $US1.08 to $US68.92 a barrel from its close in the United States overnight.
Brent North Sea crude for December delivery was 82 cents higher at $US66.74.
The Organisation of the Petroleum Exporting Countries (OPEC), meeting in Vienna tonight, is set to announce a cut to oil output in a bid to shore up oil prices, which have been plunging as fears of a global recession hit energy demand.
OPEC President Chakib Khelil said yesterday the cartel will decide to reduce production at the meeting.
Ahead of the gathering, Iran, OPEC's second biggest oil exporter, and Libya both called for a reduction of two million barrels per day, while Venezuela said there should be a cut of at least one million barrels.
Today's meeting on the impact of the global financial crisis and looming recession on the oil market was originally planned for November 18 but was brought forward as prices plunged.
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Oil prices ease ahead of Opec meeting
