Oil rises on OPEC cut comments, draw of U.S. crude at Cushing

By Ethan Lou NEW YORK (Reuters) - Oil edged higher on Thursday, lifted by a reported drop in U.S. crude inventories stored at the Cushing, Oklahoma, delivery hub, and as commitments from Gulf OPEC members assuaged lingering doubts in the market about cooperation from other producers. Brent crude was up 65 cents at $50.66 a barrel as of 11.06 a.m. EDT (1506 GMT). U.S. crude gained 64 cents to $49.82.