SOil prices rose by more than 1 percent on Tuesday amid supply cuts led by producer club OPEC and Russia, although a darkening economic outlook may soon weigh on growth in fuel demand. International Brent crude oil futures LCOc1 were at $59.80 per barrel at 0628 GMT, up 81 cents, or 1.4 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $51.21 per barrel, up 70 cents, or 1.4 percent. “OPEC-led cuts and declining U.S. rig counts have bolstered market sentiment in the New Year,” Singapore-based brokerage Phillip Futures said on Tuesday. The Middle East-dominated producer club of the Organization of the Petroleum Exporting Countries (OPEC) and some non-OPEC allies, including Russia, agreed in late 2018 to cut supply […]