Oil rises on hopes OPEC will extend supply cuts

HOUSTON (Reuters) - Oil rose above $59 a barrel on Wednesday, gaining support due to signs that OPEC and allied producers will make further curbs to oil supply in December, and as traders covered short positions ahead of an industry report on U.S. crude inventories. Brent crude , the global benchmark, rose 83 cents, or 1.4%, to $59.57 a barrel by 10:36 a.m. CDT (1536 GMT). U.S. crude gained 82 cents, or 1.36%, to $53.63.The Organization of the Petroleum Exporting Countries and its allies meet..