Oil prices settle mixed ahead of OPEC+ meeting

NEW YORK, Nov. 27 (Xinhua) -- Oil prices settled mixed on Friday as traders awaited a key meeting by the Organization of the Petroleum Exporting Countries (OPEC) and its allies next week.

The West Texas Intermediate (WTI) for January delivery lost 18 cents to settle at 45.53 U.S. dollars a barrel on the New York Mercantile Exchange, while Brent crude for January delivery increased 38 cents to close at 48.18 dollars a barrel on the London ICE Futures Exchange.

OPEC and its allies (OPEC+) are expected to meet on Nov. 30 and Dec. 1. Market participants expect the group would discuss extending the current production cuts during the meeting.

For the week, the WTI rose 7.3 percent and Brent climbed nearly 7.2 percent.

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