Crude oil futures in New York were up for the first time in three days on expectations of a cut in supply from OPEC triggered by the statements of the cartel’s officials.

June crude oil futures rose $0.32 to $47.24 a barrel.

OPEC might contemplate a ’’reduction’’ in its oil production levels in this quarter in an effort to shield it from a possible decline in prices, said Venezuela’s oil minister, Rafael Ramirez. On Thursday Sheikh Ahmad Fahd al-Sabah, Kuwait’s oil minister and the cartel’s president, said that the organization might consider a drop in production at its June meeting if stockpiles continue to build.

``With inventories being stockpiled at record rates, we would not be surprised to see OPEC make a move or at least hint at a production cut,’’ said David Aleman, managing director of Pure Logic Capital in Beverly Hills, California. ``Just as consumers and investors start to panic when crude moves up too far too fast, OPEC does the same when they see the price of their black gold drop sharply.’’

Heating-oil futures rose yesterday on the news of the strike in Total SA refineries in France that might disrupt the production of refined oil products. The distillate markets this year will be affected by the introduction of the new rules that demand a drop in sulphur levels.

``That’s creating tight, global distillate markets and might be affecting imports coming into the U.S.,’’ said Linda Giesecke, an oil analyst with Energy Security Analysis of Wakefield, Massachusetts.

According to the US Energy Department, the US refineries today are running at 94% of their capacity, which compares to 91.8% a week ago. Worries persist that they may not be able to cope with demand at the time when it peaks in the driving season.