World oil prices increase

WORLD oil prices climbed further yesterday after a surprise decision by the Organisation of Petroleum Exporting Countries to tighten oil supplies that analysts said will put the heat under crude markets this winter.

US light crude rose 39 cents to $28.63 a barrel and London Brent added 38 cents to $27.05.

The gains came on top of a dollar-a-barrel surge on Wednesday after OPEC agreed to cut output to prevent a build-up in petroleum inventories during the fourth quarter.