(Bloomberg) — Oil traded above $60 a barrel ahead of U.S. government data forecast to show crude stockpiles shrank, while Iraq trimmed output as Saudi Arabia applied pressure on nations to better comply with cuts.Futures were steady in New York after adding 0.1% on Monday. American crude stockpiles fell by 1.7 million barrels last week, according to a Bloomberg survey before Energy Information Administration data on Friday. U.S. industry figures are due later Tuesday. Iraq pared output by 110,000 barrels a day in December, according to Petro-Logistics SA.Oil has rallied about 10% this month after the U.S. and China made …read more
Source:: Yahoo Finance
