An employee at a Total fuel station waits for customers in south Jakarta February 12, 2015. Oil prices inched up on Monday in anticipation of tighter crude supply going into 2017 following the decision by OPEC and other producers to cut output to prop up prices. Brent crude futures, the international benchmark for oil prices, were trading at $55.41 per barrel at 0043 GMT (7:43 p.m. ET), up 20 cents, or 0.36 percent, from their last close. U.S. West Texas Intermediate (WTI) crude oil futures were up 22 cents, or 0.42 percent, at $52.12 a barrel. Traders said the higher prices in front-month crude futures were due to expectations of a tighter market from 2017. The Organization of the Petroleum Exporting Countries (OPEC) and other producers led by Russia have announced cutbacks of almost 1.8 million barrels per day (bpd) in oil production from January 2017 in an effort […]