Oil prices rose above $30 a barrel Tuesday as traders speculated that large producers might be more willing to cut production, which could alleviate the global glut of crude. Light, sweet crude for March delivery settled up $1.11, or 3.7%, at $31.45 a barrel on the New York Mercantile Exchange. Brent, the global benchmark, gained $1.30, or 4.3%, to $31.80 a barrel on ICE Futures Europe. Both are up in the last three of four sessions, with Nymex oil rising more than 18% over that span. Iraq’s oil minister said Tuesday at an energy conference there he sees signs that Saudi Arabia and Russia are more “flexible” now on supply cuts. A vice president at OAO Lukoil , LUKOY 1.86 % Russia’s No. 2 oil company, also told state media earlier this week that Lukoil’s production will likely decline this year and that Russia’s whole oil industry should cut […]