Oil hits highest since mid-2015 on non-OPEC cut agreement

By David Gaffen NEW YORK (Reuters) - Oil rose to an 18-month high on Monday after OPEC and some of its rivals reached their first deal since 2001 to jointly reduce output to tackle global oversupply, though prices slipped late in the day. Crude futures have rallied sharply, with U.S. oil futures gaining 23 percent since the middle of November as optimism that an agreement would be reached started to grow. "Right now the market is kind of feeding on itself," said Gene McGillian, manager of market