Oil rises on U.S. crude inventory draw, falling Chinese output

By Henning Gloystein SINGAPORE (Reuters) - Oil prices rose on Wednesday, lifted by a report of a drop in U.S. crude inventories and declining production in China, while an upbeat OPEC statement on its planned output cut also supported the market. U.S. West Texas Intermediate (WTI) crude oil futures were trading at $50.73 per barrel at 0326 GMT, up 44 cents, or 0.87 percent, from their last settlement. "The American Petroleum Institute crude inventory numbers were released ... this has given earl