Oil rises on Russia's output freeze commitment

Global benchmark Brent crude futures were 12 cents higher at $51.50 a barrel at 0847 GMT. U.S. West Texas Intermediate (WTI) crude was trading at $50.65 a barrel up 2 cents from its last settlement. Russian Energy Minister Alexander Novak said on Friday an oil output freeze agreement was necessary to prop up prices and that he would make proposals to his Saudi Arabian counterpart this weekend.