Oil price rises two percent ahead of producers' compliance meeting

By Karolin Schaps LONDON (Reuters) - Oil prices edged up for a second day on Friday on expectations that a weekend meeting of the world's top oil producers would demonstrate compliance to a global output cut deal, but a larger than expected rise in weekly U.S. crude stocks capped gains. U.S. West Texas Intermediate (WTI) crude oil futures were trading up $1.25, also 2.4 percent, at $52.62 a barrel. "Prices were pushed down a bit too far and hopes will rise that the OPEC/non-OPEC meeting this wee