The oil price rose towards its highest since early July on Tuesday, thanks to evidence of still-modest increases in output from OPEC and improving Chinese refining demand. Brent crude oil futures LCOc1 were at $76.65 a barrel by 0913 GMT, up 44 cents from their last close and at their highest since July 11, while U.S. crude futures CLc1 were up 17 cents at $69.04 a barrel. The monitoring committee of the Organization of the Petroleum Exporting Countries (OPEC) found that oil producers participating in a supply-reduction agreement, which includes non-OPEC member Russia, cut output in July by 9 percent more than called for. Investors are now more confident that supply is likely to fall short of demand in the coming months, as […]