Oil prices rose above $55 a barrel Friday on concerns that oil producers were complying with OPEC's production cuts and on expectations of continued blustery weather in the northeastern United States.

Light, sweet crude for March delivery on the New York Mercantile Exchange rose $1.02 to $55.25 a barrel in morning trading in New York. Brent crude rose $1.03 to $55.15 a barrel on the ICE Futures exchange in London.

Tank tracker Lloyds Marine Intelligence Unit said Friday that oil exports from the Organization of Petroleum Exporting Countries fell to less than 23 million barrels a day in December from just under 24 million barrels a day in November, according to a Dow Jones newswire report.