Oil prices crept up on Thursday amid ongoing OPEC-led supply cuts and U.S. sanctions against exporters Venezuela and Iran, but gains were capped by record U.S. crude output and rising commercial fuel inventories. Brent crude futures were at $66.12 per barrel at 0757 GMT, up 13 cents, or 0.2 percent, from their last close. U.S. West Texas Intermediate (WTI) crude oil futures were at $56.24 per barrel, up 2 cents. Prices are being supported by efforts led by the Organization of the Petroleum Exporting Countries (OPEC) and other countries – a grouping known as ‘OPEC+’ – to withhold around 1.2 million barrels per day (bpd) of oil, a strategy aimed at tightening markets. “In our view, OPEC’s strategy is to rebalance the market as quickly […]