A declining dollar makes oil prices cheaper because most trade is denominated in the greenback, potentially spurring demand.
Singapore (AFP) - Oil prices rose in Asia Friday as traders hedged their bets ahead of a meeting of the OPEC cartel whose members are divided on whether to slash production in an oversupplied global market.
Analysts said however that the rise was likely to be short-lived as the Organization of the Petroleum Countries is expected to maintain current high output levels favoured by influential members such as Saudi Arabia and other Gulf states.
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