By Devika Krishna Kumar
NEW YORK (Reuters) - Oil prices rose about 1 percent on Friday on hopes that non-OPEC producers meeting in Vienna over the weekend would agree to output restrictions to go along with the limits OPEC announced last week to curb a glut of oil.
Both Brent and U.S crude futures, however, notched their first weekly loss in four weeks.
A strong U.S. dollar (.DXY) that makes greenback-denominated crude more expensive to many buyers, pressured oil, keeping both benchmarks nearly 2 percent below the highs reached late last month after the Organisation of the Petroleum Exporting Countries (OPEC) announced plans to cut production. [USD/]
On Saturday, OPEC oil ministers will meet non-OPEC producers in Vienna to seek help in curbing a global glut.
Price gains were slightly pared after data showed U.S. energy companies this week added 21 oil drilling rigs, the biggest weekly increase since July 2015.Read More »from Oil edges up about 1 percent on optimism over non-OPEC output cuts