Asian energy shares rise on non-OPEC output cut deal

HONG KONG: Most energy firms in Asia jumped with a surge in oil prices Monday after 11 non-OPEC countries agreed to huge cuts in crude production, while Saudi Arabia also signalled a bigger reduction in output than previously agreed.

The 11 nations, led by Russia, said they would pump more than half a million fewer barrels a day from next month in an effort to address a global supply glut that has scythed prices over the past two years.