OPEC-led production cuts contribute to market stability: Iraq U.S. drillers boost rig count by most in more than six months Oil traded near the highest close in more than three years as Iraq echoed a call by the United Arab Emirates and other producers that the OPEC-led output cuts should continue, despite recent price gains. Futures were little changed in New York after rising 4.7 percent last week. The curbs have contributed to stability in the market and the caps should remain , Iraqi Oil Minister Jabbar al-Luaibi said in Abu Dhabi on Saturday. In the U.S., drillers added 10 rigs to fields last week, the most in more than six months, according to data from Baker Hughes Friday. Oil has extended gains after a second annual advance as the Organization of Petroleum Exporting Countries and its allies trim supply to drain a global glut. Crude demand will expand […]