Oil rises above $50 on OPEC cut comments

By Alex Lawler LONDON (Reuters) - Oil edged above $50 a barrel on Thursday, drawing support from sources' comments that OPEC's Gulf members are willing to cut their output by 4 percent and from a further drop in U.S. crude inventories. Saudi Arabia and its Gulf OPEC allies are willing to make that reduction from their peak oil output, energy ministers from the Gulf countries told their Russian counterpart this week, sources familiar with the matter told Reuters. "That seems to be the reason behi