Crude rose while the number of rigs drilling for oil in the U.S. rose for only the second time this year. Futures in New York gained as much as 0.7 percent. Rigs targeting crude in the U.S. rose by 9 to 325 last week, Baker Hughes Inc. said Friday. Members of the Organization of Petroleum Exporting Countries rejected a proposal to adopt a new production ceiling last week. Outgoing Secretary-General Abdalla El-Badri said that it’s hard to find a target when Iranian supply is rising and significant Libyan volumes are halted. Oil has surged about 85 percent in New York from a 12-year low earlier this year amid supply disruptions and signs output from the U.S. to China slid under pressure from OPEC’s policy of sustaining production. The oil surplus is contracting faster than expected as growing global demand could push prices to $60 a barrel this year, according […]