Oil rises close to $50/barrel; doubts on OPEC plan cap gains

By Barani Krishnan NEW YORK (Reuters) - Oil jumped more than 1 percent on Thursday, with Brent nearing $50 (39 pounds) a barrel on optimism over OPEC's first planned output cut in eight years, although gains were limited by doubts the reduction would make a substantial dent in the global crude glut. OPEC said other details will be known at its policy meeting in November, leaving unanswered when the agreement will come into effect, what new quotas for member countries will be and for what periods