Mubasher: Oil prices ended Thursday’s trading session on a higher note supported by plans by major producers to cut crude output. 

Nymex futures for January delivery added $1.43, or 2.8%, and closed at the level of $52.58 per barrel. 

Meanwhile, Brent crude futures for February went up by 2.2% and settled at $61.45 a barrel. 

Expectations of lower production and oil exports helped offset the negative effect of a forecasted weakened global demand in 2019.