Oil prices rise for a sixth day on Monday due to concern that the cold weather in the United States would strain already low stocks of heating fuels.

    BEIJING, Feb. 28 -- Oil prices rise for a sixth day on Monday due to concern that the cold weather in the United States would strain already low stocks of heating fuels.

    US light crude rose 26 cents to $51.75 a barrel, less then $4 below last October's record $55.67. Prices so far this year are running $6 above the average for 2004 at 41.48.

    US inventories of heating oil are running more than 7 percent below year-ago levels at about 41 million barrels.

    Heating oil futures on the New York Mercantile Exchange rose 1.6 percent, or 2.30 cents to $1.4771 a gallon.

    OPEC talk of a possible production cut for the second quarter after the northern hemisphere winter appears to be cooling.

    Qatar, the smallest producer in the Organization of the Petroleum Exporting Countries, said on Sunday that prices were high and OPEC might leave production limits at the current 27 million barrels per day (bpd) when ministers meet in Iran on March 16. Enditem

(Agencies)