NEW YORK, May 27 (Xinhua) -- Crude prices ended above 63 U.S. dollars Wednesday in New York, after Saudi oil minister said the world economy is strong enough to cope with a higher oil price.

    Light, sweet crude for July delivery rose 1 dollar, or 1.6 percent, to settle at 63.45 dollars a barrel on the New York Mercantile Exchange. It earlier reached 63.82 dollars a barrel, a fresh high since early November.

    Saudi Oil Minister Ali al-Naimi said on Wednesday that oil prices would continue to rise and the global economy was now strong enough to support 75-dollar oil. The minister told press in Vienna, where the Organization of Petroleum Exporting Countries (OPEC) would meet on Thursday, that there is no need to cut oil production.

    In London, Brent crude rose 1.26 dollars to 62.50 dollars a barrel on the ICE Futures Exchange.