India, Dec. 3 -- Crude oil futures ended higher on Monday on reports Saudi Arabia wants the Organization of the Petroleum Exporting Countries (OPEC) to deepen oil production cuts in order to anchor oil prices before Saudi Aramco's initial public offering. The deal reportedly to be discussed by OPEC and other oil producers at a meeting this week would add about 400,000 barrels per day to existing cuts of 1.2 million barrels per day. Besides, oil prices also got support from upbeat Chinese manufacturing data, which helped alleviate concerns about the impact of the ongoing US-China trade dispute.

Benchmark crude oil futures for January rose 79 cents or 1.4 percent to settle at $55.96 a barrel on the New York Mercantile Exchange. January Brent...