Oil up about 1 percent on optimism over non-OPEC output cuts

By Devika Krishna Kumar NEW YORK (Reuters) - Oil prices rose about 1 percent on Friday, trading within a narrow range, on hopes that non-OPEC producers meeting in Vienna over the weekend would agree to cut output to bolster the group's own agreement to limit production. Saudi Arabia and Iraq plan to supply full contracted volumes of crude to Asia in January, in an effort to retain market share in Asia, but the former ordered supply cuts to U.S. and European buyers.