Crude prices rose on Friday on better-than-expected US GDP data while the Organization of Petroleum Exporting Countries (OPEC) warned to cut more output.

The Commerce Department reported the US economy shrank at a 3.8 percent pace at the end of 2008, which was not as bad as economists had expected.

The OPEC, which promised last year that it would slash production by 4.2 million barrels a day, said the cartel may cut production even more.

Light, sweet crude for March rose 24 cents to settle at US$41.68 a barrel on the New York Mercantile Exchange.

In London, the March Brent contract rose 48 cents to settle at US$45.88 on the ICE Futures exchange.

(Xinhua News Agency January 31, 2009)