24-01-2017 09:51 via uk.news.yahoo.com

Oil prices rise as OPEC output cuts drain stocks

By Christopher Johnson LONDON (Reuters) - Oil prices rose on Tuesday on evidence the global market was tightening as lower production by OPEC and other exporters drained stocks, but an increase in drilling in the United States could keep a lid on prices. Ministers from the Organization of the Petroleum Exporting Countries and big producers outside the group said on Sunday that, of the almost 1.8 million barrels per day (bpd) they had agreed to remove from the market starting on Jan. 1, 1.5 milli
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