Oil moves higher, hovers below $40 as doubts emerge over next step on OPEC cuts

NEW YORK (Reuters) - Oil ended slightly higher on Wednesday but remained below the session's early highs above $40 a barrel, the highest since March, retreating as doubts emerged about the timing and scale of a potential extension to the pact between OPEC and its allies to cut crude supplies.Oil prices were supported by a drawdown in U.S. crude inventories in the latest week, but came under pressure as U.S. refined product inventories surged on tepid demand. [EIA/S]"As product demand remains..