LONDON - Oil prices fell Friday on the back of a sharp rise in US crude stockpiles and after Saudi Arabia rejected proposed output cuts. At around 1230 GMT, US benchmark West Texas Intermediate for delivery in March fell 66 cents to $30.11 a barrel. Brent North Sea crude for April delivery shed 46 cents to $33.82 a barrel compared with Thursday's close. Crude futures ran out of steam on Thursday after the US Department of Energy said US commercial crude inventories rallied 2.1 million barrels last week to reach the highest level in more than eight decades. The DoE also revealed sizeable increases in gasoline and other refined products.