Oil prices rise as OPEC cuts output as promised

By Christopher Johnson LONDON (Reuters) - Oil prices rose on Tuesday after news OPEC oil production has fallen sharply this month, pointing to a strong start by the exporter group in implementing its first supply cut deal in eight years. A Reuters survey showed on Tuesday crude oil supply from the 11 OPEC members with production targets averaged 30.01 million barrels per day (bpd) in January, versus 31.17 million in December. "This is very high, a good number," an OPEC source said of the January