Oil Rises, But Faces Prospect of Growing U.S. Output

Oil prices rose on Monday but gains were limited as investors gauged whether an increase in U.S. drilling rigs and record stockpiles might offset the existing push by producers to cut output and bring the market into balance. Brent futures were up 33 cents at $56.14 a barrel at 1235 GMT, while U.S. West Texas Intermediate crude rose 23 cents to $53.63.