Crude oil prices stay above $63/bl

Oil prices climbed above $63 per barrel in London trades on Friday ahead of a meeting of top producers next week to decide on output cuts.

While the US crude was up 63 cents at $63.12 per barrel, London Brent crude gained 84 cents to $63.41.

Updated at 0930 hrs: Oil prices rose in Asian trade today after the latest attack on an oil installation in Nigeria and on growing expectations that OPEC will cut production further, dealers said.

At 0851 hrs, New York's main contract, light sweet crude for January delivery, was up 39 cents to $62.88 a barrel from its close of $62.49 in US trade yesterday.

Brent North Sea crude for January delivery rose 32 cents to $62.89.

"That is the major impact," Stephen Rowles, an analyst with CFC Seymour in Hong Kong, said of the fallout from the Nigerian attack.

The African nation is normally the world's fifth-biggest oil exporter and the largest producer in Africa, accounting for 2.6 million barrels of crude in daily export but recent unrest has cut output by a quarter.