Oil prices fall as rising U.S. output offsets OPEC-led cuts

By Henning Gloystein SINGAPORE (Reuters) - Oil prices fell on Tuesday as rising U.S. drilling activity offset efforts by OPEC and other producers to cut output in a move to prop up the market. Brent crude futures, the international benchmark for oil prices, were trading at $55.10 per barrel at 0516 GMT, down 13 cents from their last close. Since their January peak, Brent has lost over 5.6 percent in value.