Crude prices above $60/bl on OPEC cut

 Updated at 1000 hrs: Oil climbed above $60 a barrel on Monday in Asian trades as OPEC plans to cement a deal to cut production and after North Korea increased geopolitical tensions with its first nuclear test.

U.S. crude rose 71 cents to $60.47 a barrel by 0401 GMT, after losing 27 cents on Friday. London Brent crude rose 67 cents to $60.50.