Global crude oil prices jumped to their highest levels in a year and a half, today, after OPEC and non-OPEC producers agreed to decrease oil output to ease a global glut. <br/><br/>Brent crude oil futures increased 4.4 percent, to 56.72 dollars a barrel. U.S. crude jumped 4.8 percent, to 53.98 dollars a barrel.

Oil prices jumped more than 5 percent today after OPEC and non-OPEC producers agreed to curb oil output and ease a global glut. U.S. dollar has also extended gains ahead of an expected rate hike this week following the decision.<br/><br/>Brent futures for February delivery rose 5 percent to $56.94 per barrel, with U.S. crude spiking a similar amount to $54.07 per barrel.<br/><br/>Commodity currencies and energy shares were also pulled higher, adding to bullish sentiment after another day of strong gains on Wall Street on Friday.<br/><br/>Energy and resources shares helped pull Australia's benchmark share index up 0.3 percent, but MSCI's broadest index of Asia-Pacific shares outside Japan was flat after posting its biggest weekly rise in nearly three months last week.