New York — Oil prices were little changed on Wednesday as investors awaited official data on inventories in the United States and the outcome from Vienna where ministers from OPEC and other exporting countries were discussing whether to extend production cuts.Data from the US Energy Information Administration is due to be released at 14:30 GMT. Late Tuesday, data from industry group American Petroleum Institute showed crude inventories fell by 1.5 million barrels to 521.9 million barrels in the week to May 19, compared with analysts’ expectations for a decrease of 2.4 million barrels.Benchmark Brent crude oil was up 11 cents a barrel at $54.26 at 13:47 GMT. US light crude was up 1 cent at $51.48.Both benchmarks have gained more than 10% from their May lows below $50 a barrel, rebounding on a consensus that the Organization of the Petroleum Exporting Countries and other producers will maintain strict limits on oil production in an attempt to drain a global oversupply.OPEC has promise...
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