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Oil flat, watching for U.S. inventory data, OPEC news

Reuters  |  NEW YORK 

By Scott DiSavinoNEW YORK (Reuters) - Oil prices were little changed on Tuesday as the market awaited weekly U.S. inventory figures and as Kuwait and other OPEC members joined top producers Saudi Arabia and Russia in support of prolonging supply cuts through March 2018 to reduce a global crude glut.Prices were down slightly in afternoon trade, but they have rebounded about 10 percent since hitting five-month lows 11 days ago. Members of the Organization of Petroleum Exporting Countries have stated their intentions to keep supply cuts going through next year. The market had grown sceptical, as ...

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First Published: Wed, May 17 2017. 00:11 IST