Oil prices clawed back some of Wednesday’s losses to close above $50 a barrel as market participants turned their attention to a planned meeting between OPEC and non-OPEC producers to discuss coordinating cuts in production. U.S. crude futures rose $1.07, or 2.15%, at $50.84 a barrel on the New York Mercantile Exchange. Brent, the global benchmark, rose 89 cents, or 1.68%, to $53.89. Traders continued to assess the market impact of last week’s decision to cut output by the Organization of the Petroleum Exporting Countries, and the rally that followed the announcement of the deal has slowed in recent days. OPEC has agreed to cut output by nearly 1.2 million barrels a day for six months starting in January. The group expects other big producing countries to reduce output by another 600,000 barrels, and Russia has indicated it will take on half of that. Those cuts will be discussed […]