The price of oil extended gains to rise above $94 a barrel Tuesday, ahead of an OPEC meeting and bolstered by encouraging manufacturing data from the world’s top two economies. Benchmark U.S. crude for January delivery was up 29 cents to $94.11 a barrel at midafternoon Kuala Lumpur time on the New York Mercantile Exchange. The contract added $1.10 to close at $93.82 on Monday. Investors are looking to a meeting of the Organization of Petroleum Exporting Countries in Vienna on Wednesday for an update on production levels. Analysts at JBC Energy in Vienna estimate that OPEC’s crude output fell to 29.44 million barrels a day in November, the lowest since May 2011 and the third straight month with output below 30 million. Most of the difference was attributed to production and export snags in Libya, where political volatility and the effects of the […]