Compliance to OPEC’s output-cut deal at 125% in December WTI gains while gasoline futures at highest since August Crude edged higher as OPEC showed increased determination to curb production and tighten markets. Futures rose 0.4 percent in New York following Tuesday’s decline. Strict adherence by OPEC, Russia and other major producers to self-imposed supply limits has been counterbalanced by concern that hedge fund managers may begin unwinding a record level of bullish bets on crude prices. Meanwhile, gasoline futures jumped amid U.S. refinery shutdowns because of the cold weather. “The market continues to take support from signs that OPEC and Russia’s compliance with their production cuts is really high and it doesn’t seem that there are any worries that there is cheating going on yet,” Gene McGillian, a market research manager at Tradition Energy in Stamford, Connecticut, said by telephone. Despite Tuesday’s price drop, crude remains close to levels […]