Oil rises on China demand forecast, but ample supplies hold prices back

By Henning Gloystein SINGAPORE (Reuters) - Oil prices rose on Thursday, supported by expectations of strong demand growth in China and signs that OPEC members are starting to cut output, but markets were still held back by rising U.S. crude inventories and plentiful global supplies. Prices for Brent crude futures , the international benchmark for oil prices, were at $55.29 a barrel at 0754 GMT, up 19 cents from their last close. U.S. West Texas Intermediate (WTI) crude oil futures were trading a