Oil Prices Rose on OPEC Production Decline

Oil prices rose above $64 a barrel in Asian trading Friday after a surge in the previous session, reacting to warnings that OPEC production was at its lowest point in two years.

Light, sweet crude for May delivery rose 28 cents to $64.13 a barrel in electronic trading on the New York Mercantile Exchange mid-afternoon in Singapore.

Brent crude contact for May delivery rose 54 cents to $69.26 a barrel on the ICE Futures exchange in London.