Oil prices jumped more than 2% on Friday, climbing further from five-month lows hit this week amid signs that OPEC and other producers may extend their output reduction deal. Brent crude futures were up $1.35 at $63.02 a barrel by 0757 GMT. U.S. West Texas Intermediate (WTI) crude futures were up $1.10 at $53.69 per barrel. Both grades are heading for their strongest daily rise since late April. Oil prices ticked up after Saudi Energy Minister Khalid al-Falih told an industry conference in St. Petersburg, Russia, that $60 a barrel was too low to encourage investment in the industry. He added he did not want to boost Saudi production to make up for a lower oil price and that a return to the price-crash environment of 2014-15 […]