Oil Prices ::

Oil prices rose above $64 a barrel in Asian trading on Friday, after a surge in the previous session, reacting to warnings that OPEC production was at its lowest point in two years. Light, sweet crude for May delivery rose 19 cents to $64.04 a barrel in electronic trading on the New York Mercantile Exchange (NYMEX) midmorning in Singapore. The contract rose almost $2 on Thursday, to close at $63.85 a barrel, after the International Energy Agency (IEA) warned output by the Organisation of Petroleum Exporting Countries (OPEC) had slid to its lowest level in more than two years on production outages and self-imposed cuts.