Reuters | Oil rises on US crude inventory draw, falling Chinese output Reuters Traders said oil was supported by Mohammed Barkindo, secretary general of the Organization of the Petroleum Exporting Countries (OPEC), saying he is confident about the prospects of a planned production cut following an OPEC meeting on Nov. 30. Frackers profit from shifting fortunes in the oil price war US oil settles up 35 cents, or 0.7%, at $50.29 as traders await crude stock data Oil Seen Stuck in $50 to $60 Range as Shale Blunts OPEC Action |