Crude oil prices fell as OPEC cut supplies

Crude oil prices fell after a two- day-surge despite OPEC cut supplies by 500,000 barrels per day on Thursday.

New York's main oil futures contract, light sweet crude for delivery in March, declined 84 cents to 57.30 U.S.dollars a barrel.

In London, the price of Brent North Sea crude for March delivery fell 68 cents to a settlement of 56.72 dollars a barrel.

Crude oil prices jumped more than 7 percent in the past two days as OPEC is to cut supply and cold weather in the U.S. Northeast boosts fuel consumption.

Source: Xinhua