Investing.com - The price of oil climbed on Friday on the New York Mercantile Exchange and on the international market.
West Texas Crude Oil closed at 51.54 today.
That's up 1.34%. Or 68 cents per barrel.
Brent Oilsettled at $54.35.
That's an increase of 0.87%. Or 47 cents per barrel.
Investors are eager to hear news of this weekend's conference of OPEC and non-OPEC oil producing nations. There is a proposal afloat to link the production reductions of OPEC and other countries, like Russia.
President-elect Donald Trump, speaking in the oil-producing state of Louisiana on Friday afternoon, said he would restrict immigration from the Middle East and other "unsafe areas" during his administration.
"We have to stop ISIS; we have to knock them out; we have no choice," said Trump, who was in Baton Rouge, speaking at a rally for a run-off election for the Republican candidate for U.S. Senate in Louisiana.
Trump has called for increased oil production and lessening of environmental regulations which restrict exploration and production in the U.S.