Oil fell for the first time in four days as an increase in U.S. drilling activity fanned speculation that OPEC production cuts could revive output in North America. Futures slid as much as 1.7 percent in New York after rising 3.2 percent the previous three sessions. Gulf oil producers Saudi Arabia, the United Arab Emirates, Qatar, Oman and Kuwait are implementing the cuts they promised, Nawal Al-Fezaia, Kuwait’s OPEC governor, said in an interview Monday in Kuwait City. Still, that wasn’t enough to revive prices after data from Baker Hughes Inc. on Friday showed that U.S. drillers added rigs for the 10th straight week to the highest level in a year. Oil last year capped its biggest annual gain since 2009 as the Organization of Petroleum Exporting Countries and 11 other nations agreed to curb output starting Jan. 1 in an effort to trim a global inventory glut. While […]