http://af.reuters.com/article/commoditiesNews/idAFTOE70M00N20110124 1/ * Speculators reduced their net long positions in U.S. crude in the week to Jan. 18, the Commodity Futures Trading Commission said late on Friday. The reduction left net longs 5.4 percent lower from their all-time high hit in the last week of December. [ID:nN21276482] 2/ * U.S. crude lost 2.65 percent last week as a crude inventory rise reported on Thursday left investors concerned that more stock build-up could be coming as deliveries delayed because of year-end tax issues start to arrive. [EIA/S] ------------ OPEC May Raise Oil Supply to Meet Expected Higher Demand, al-Naimi Says http://www.bloomberg.com/news/2011-...eet-expected-higher-demand-al-naimi-says.html 1/ Saudi Arabia led OPEC members in agreeing to cut oil output at the end of 2008 after crude prices slumped from a record in the wake of the global financial crisis. OPECâs compliance with the record cuts dropped last month as the group boosted output to the highest level since December 2008, the IEA said. The 11 members bound by quotas produced 27.15 million barrels a day last month, implying compliance of 45 percent, according to the IEA. 2/ Worldwide oil demand may increase as much as 1.8 million barrels a day in 2011, or 2 percent from last year, Ali al-Naimi said in a speech in Riyadh today. Saudi Arabia, the largest producer in the Organization of Petroleum Exporting Countries, will have spare production capacity of about 4 million barrels a day, he said. âOPECâs policy, as is well known, is to meet any increase in oil demand to maintain the supply-demand balance,â he said. âSome OPEC countries will increase their production capacities, thus maintaining OPECâs spare capacity at approximately 6 million barrels per day.â