Oil prices rose on Wednesday, bolstered by export cuts from Libya and planned OPEC-led production cuts, pulling back briefly after the United States reported a smaller-than-expected crude inventory drawdown. U.S. crude stockpiles fell 1.2 million barrels last week, the Energy Information Administration said, a much smaller drawdown than 10 million barrels reported by industry group the American Petroleum Institute on Tuesday and less than half the draw of 3 million barrels analysts had forecast. “The divergence from the large inventory decline reported by the API makes the report appear more negative than it actually was,” said John Kilduff, a partner at Again Capital Management in New York. Brent crude futures LCOc1 rose 82 cents to $61.02 a barrel by 11:48 a.m. EST (1648 GMT), paring gains […]