Oil prices rose for a third straight session Monday on expectations that U.S. crude-oil production is set to slow while global demand may improve. Light, sweet crude for May delivery settled up 27 cents, or 0.5%, to $51.91 a barrel on the New York Mercantile Exchange. Brent, the global benchmark, rose 6 cents, or 0.1%, to $57.93 a barrel on the ICE Futures Europe exchange. Prices have plunged in recent months amid a growing oversupply of oil in the global market. Companies have responded to low prices with large spending cuts and reducing the number of rigs drilling for oil in the U.S. to the lowest level since December 2010, but those cuts have yet to translate into a drop in production. The U.S. Energy Information Administration said Monday that total crude-oil production from seven key shale regions will likely decline by 57,000 barrels a day in May from […]