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Oil edges higher as OPEC boost offsets dent from U.S. supply

Reuters  |  LONDON 

By Libby George and Amanda CooperLONDON (Reuters) - Oil edged higher on Wednesday as OPEC said it was committed to eroding a global surplus of crude, but increasing shale production in the United States and still-high global stocks threatened to pull prices lower.Brent crude futures were up 19 cents at $55.08 a barrel at 1331 GMT, while U.S. crude futures were up 15 cents at $52.56.Crude fell in the previous two sessions, but it received a boost from comments on Wednesday by the secretary-general of the Organization of the Petroleum Exporting Countries that the group was committed to cutting ...

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First Published: Wed, April 19 2017. 19:33 IST
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