U.S. shale producers cheered OPEC’s decision to trim output, a move that sent crude prices higher on Friday, closing at levels that oil executives said would keep their profits flowing. The Organization of the Petroleum Exporting Countries and Russia-led allies agreed to trim output by 1.2 million barrels per day (bpd) beginning in January. The reduction was larger than the 1 million bpd cut that analysts had expected. U.S. oil futures settled up nearly 2 percent at $52.61 on Friday after trading as much as 4.5 percent higher during the day. Prices peaked at above $76 in early October but had plummeted to about $50 ahead of this week’s OPEC meeting. “As long as a little producer like me can expect […]