Oil rises on China demand forecast, but ample supplies hold prices back

Oil rises on China demand forecast, but ample supplies hold prices back
12-Jan-2017 01:44 FEEDREUTERS

SINGAPORE (Reuters) - Oil prices rose on Thursday, supported by expectations of strong demand growth in China and signs that OPEC members are starting to cut output, but markets were still held back by rising U.S. crude inventories and plentiful global supplies.