Crude futures fall with mild winters
Singapore: Crude futures fell slightly as milder winter weather across the northeastern United States curbed price pressure on heating oil. Prices for crude oil dropped by 24 cents by midmorning in Asia to $ 43.67 per barrel for February delivery on the New York Mercantile Exchange.

Prices could also be held down by a United States' Department of Energy report due later in the day, that is expected to show that US inventories of distillates rose by 160,000 barrels last week.

Today's price fall came despite a pledge last month by OPEC oil ministers to cut production by one million barrels per day to stop inventories building up too fast. The ministers are due to meet on January 30 to decide whether further production cuts will be needed.

Saudi Arabia is also cutting 500,000 barrels a day from its daily production of around nine million barrels.
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