Oil prices rose on Friday after Kuwait appeared to be lining up bigger supply cuts than had been initially expected from January as part of a coordinated effort by oil producers to drain a global glut. International Brent crude oil futures were trading at $54.29 per barrel at 0538 GMT, up 75 cents, or 0.5 percent from their last settlement. U.S. West Texas Intermediate (WTI) crude futures were up 31 cents, or 0.61 percent, at $51.21 per barrel. The higher prices came after Kuwait, a member of the Organization of the Petroleum Exporting Countries (OPEC), notified customers that it would cut supplies from January as part of an effort by OPEC and other producers led by Russia. Under the deal, production will fall by almost 1.8 million barrels per day […]