Oil stable as planned output cuts start to materialise

By Henning Gloystein SINGAPORE (Reuters) - Oil prices were stable on Friday as evidence increased that producers in the Middle East were informing customers of upcoming supply cuts as part of a coordinated effort to drain a global glut. U.S. West Texas Intermediate (WTI) crude was down 2 cents at $50.88 per barrel. Oil producers including Kuwait, Saudi Arabia, and Abu Dhabi, who are members of the Organization of the Petroleum Exporting Countries (OPEC), have notified customers that they would c