TOKYO (Reuters) - Oil prices rose around 1% on Tuesday after major producers showed they were cutting crude output in line with their commitments on restraint, supporting a market thrown out of kilter by weak demand during the coronavirus pandemic.
Brent crude was up 51 cents, or 0.9%, at $56.86 a barrel by 0134 GMT, while U.
S. oil gained 53 cents, or 1%, to $54.08 a barrel. Both contracts rose more than 2% in the previous session.
OPEC crude production increased for a seventh month in January, a Reuters survey found, after the group.....