Local shares are poised to lift more than 30 points at the open...

Local shares are poised to lift more than 30 points at the open after a surge in the price of oil on optimism that OPEC is edging closer to a deal to cut output. The Australian dollar was 0.2 per cent higher.
Oil leapt more than 4 per cent amid signs that a consensus is building both within and outside of OPEC to pare global output and bolster prices. Goldman Sachs says the odds of a deal have increased and it believes the global oil surplus will shift into a deficit by the middle of next year. BHP Billiton was 2.2 per cent higher in afternoon trade in New York, Rio Tinto was up 1.9 per cent

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