Crude oil futures were trading marginally higher during afternoon trade in the domestic market on Friday as investors and speculators extended their positions in the energy commodity and looked for further clues on how effectively OPEC output cuts are working to absorb a global supply overhang.

Besides, official data showed that US crude stockpiles fell by 237,000 barrels last week as imports plunged, the first weekly decline after nine consecutive rises. At the MCX, crude oil futures for March 2017 contract is trading at Rs 3197 per barrel, up by 0.16 per cent, after opening at Rs 3200, against a previous close of Rs 3192. It touched the intra-day high of Rs 3211.

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