Oil prices gained Wednesday as signs of a decline in U.S. crude inventories offset mixed signals on supplies from the globe’s major producers even as they ready for a planned reduction in output early next year.
OPEC said Wednesday that its total crude-oil production came down slightly in November but output from Saudi Arabia — the cartel’s largest member — surged to a record high. U.S. domestic supply data, meanwhile, appeared to register a drop, according to preliminary reporting.
