Oil prices rallied above $60 for the first time in a month on Friday before paring some gains, lifted by signs of falling crude exports from producer group OPEC and an outage at a U.S. oilfield.
U.S. crude oil futures gained 21 cents to $59.92 a barrel by 0818 GMT, after hitting the highest since January 3. London Brent crude was up 5 cents to $59.09.
OPEC's exports in January were down 200,000 barrels per day (bpd) from December, shipping data from Lloyd's Marine Intelligence Unit showed, bringing the cartel closer to its pledged supply cut of 1.2 million bpd from November.
The group's exports are expected to edge even lower in February, when OPEC planned to cut another 500,000 bpd, oil consultancy Oil Movements said in a separate report.
Read more at Reuters South Africa
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