London — Rising US crude stocks dragged oil lower on Thursday but prices continued to find a floor as oil cartel Opec-led cuts and free-falling Venezuelan output tightens global supplies. International benchmark Brent futures were at $71.43 a barrel at 9.03am GMT, down 30c from their last close. US West Texas Intermediate (WTI) crude oil futures were down 35c at $64.26 a barrel. US crude inventories surged by 7-million barrels to a 17-month high of 456.6-million barrels last week, the Energy Information Administration (EIA) said on Wednesday. US crude oil production remained at a record 12.2-million barrels per day (bpd), making the US the world’s biggest oil producer ahead of Russia and Saudi Arabia. “While US crude stocks built last week, a massive draw on [petrol] inventories likely buoyed the whole complex,” Vienna-based consultancy JBC Energy said. US petrol stocks fell by a whopping 7.7-million barrels, sending US RBOB higher by 3.5% on their close on Wednesday. Tightening glo...

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