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Oil rises to $57 on China-U.S. trade talks, OPEC cuts

LONDON: Oil rose to around $57 a barrel on Friday after China said it would hold trade talks with the United States and a survey showed China’s services sector expanded in December, while signs of lower crude supply also lent support. The Organization of the Petroleum Exporting Countries (OPEC) cut crude output in December, a Reuters survey showed, and the American Petroleum Institute (API) reported a 4.5 million-barrel drop in crude inventories. Brent crude LCOc1, the global benchmark, was up $1.25 to $57.20 a barrel…