UPDATE 8-Oil edges higher but set for biggest weekly loss of 2019



*OPEC cuts and Middle East tension limit fall. NEW YORK, May 24- Oil prices climbed 1 percent on Friday ahead of long U.S. and UK holiday weekends, but were on track for their biggest weekly drop of the year, pressured by rising inventories and worries about the global economy. U.S. crude inventories are the highest since July 2017, with worries about escalation of the…



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