Jan 23 (Reuters) - Australian shares are expected to rise on Monday, with oil and gas stocks set to bounce after ministers of OPEC and non-OPEC countries applauded a strong start to output cuts.
At their first meeting on oil deal compliance on Sunday, energy ministers said producers had made a good start in curbing their oil output under the first such deal in more than a decade. O/R
Oil prices jumped over 2 percent on Friday, ahead of the meeting on expectations of positive comments from the world's top oil producers.
Australian share price index futures YAPcm1 rose 0.5 percent, a 26.8-point discount to the underlying S&P/ASX 200 index .AXJO close. The benchmark index fell 1.2 percent last week.
A positive lead from Wall Street could also lend support to Aussie shares in their first trading session since the inauguration of U.S.President Donald Trump. .N
New Zealand's benchmark S&P/NZX 50 index .NZ50 edged down 0.17 percent in early trade.
For a summary of overnight action across global markets, double click on AU/CALL
For a digest of the day's business stories in Australian newspapers, double click on PRESS/AUB