Brent, WTI rally comes to an end after survey reveals Opec pumped 34.16m bpd in November.
Brent caps $55 per barrel mark for first time in 16 months on Opec's decision to reduce its 2017 output.
Brent, WTI extend positions above $50 as market awaits Opec-Russia talks.
Traders switching from riskier assets to safe havens such as gold and the Japanese yen.
Oil futures remain in negative territory as oversupply sentiment weighs on trading.
Demand for physical gold continues to rise despite extreme volatility in the futures market.
At odds with industry peers, oil giant Shell's finance chief warns crude demand will peak before supply.
Splits at Opec escalates oil market crisis as Brent, WTI futures register massive intraday declines.
Concerns over Opec ability to lower crude production weighed on oil prices, while gold rose as dollar weakened.
Oil futures took a hammering following reports of splits within Opec ranks.
Brent, WTI slumped below $50 as traders showed increasing signs of losing faith in Opec promised of a crude production cut.
Brent, WTI rally after report suggests Opec members may be willing to cut individual production by as much as 4%.
Brent, WTI futures extend declines on Iraq's demand for exemption from Opec's proposed production ceiling.
Brent, WTI futures slide on reports Iraq is demanding exemption from proposed production ceiling on financial grounds.
Brent, WTI fail to extend recent gains while precious metal benchmarks head sideways after overnight declines.
Silver led precious metals lower after the ECB decided to hold interest rates, but hinted at further stimulus action in December.
Greater than expected decline in US crude stockpiles for sixth successive week sparks oil futures market frenzy.
Oil price registers modest movement as Saudi data points to lower crude production.
Crude futures saw volatile session despite data suggesting short calls on WTI had fallen 53% in recent weeks.
Oil benchmarks saw another volatile session after data pointing to supply drops neutralised crude inventories build-up stateside.