Oil prices rose by the biggest amount in nearly two years Friday after some of the world’s major oil producers agreed to boost crude output less than many investors had feared. Ministers from the Organization of the Petroleum Exporting Countries ended a contentious gathering with a loose promise to boost output by about 600,000 barrels a day. That was far less than the one million barrels many predicted. The result dashed the hopes of some big producing nations like Russia, which wanted to raise production further to sell more crude at these higher prices. The move was cheered by investors, who say they now feel more confident the global glut that dragged U.S. oil prices below $30 a barrel isn’t about to return. U.S. oil prices surged 4.6% to $68.58 a barrel; the price of Brent, the international benchmark, rose $2.50, or 3.4%, to $75.55. For U.S. prices, it […]