| GEO Business|
| Oil prices rise in Asian trade|
| Updated at: 1221 PST, Thursday, October 23, 2008|
SINGAPORE: Oil prices moved higher in Asian trade Thursday on the eve of an OPEC meeting expected to see the cartel announce plans to cut production, dealers said.
New York's main contract, light sweet crude for December delivery, rose 75 cents to 67.50 dollars a barrel. Brent North Sea crude for December delivery was 74 cents higher at 65.26.
Crude prices have more than halved since reaching record highs above 147 dollars in July, pulled down mainly by worries that energy demand will be hit as growth weakens in industralised nations, especially the United States.