22.09.201714:58:00UTC+00Crude Oil Ends Week Above $50 Despite OPEC Uncertainty

Crude oil prices inched higher Friday, preserving weekly gains as OPEC met in Vienna to discuss output cuts.

Oil's rally stalled amid uncertainty over the outcome of the meeting.

Russian Energy Minister Alexander Novak said Russia and OPEC can wait until at least January before announcing further production quotas.

Earlier in the week, Kuwait's oil minister said the oil market was already on the way to re-balancing.

November oil rose 11 cents to $50.66 a barrel, for a weekly gain over 0.4%.

At one point, oil touched a 4-month peak near $51.

U.S. crude inventories rose for a third straight week, by 4.6 million barrels in the week ending Sept. 15, the Energy Information Administration said Wednesday.