Investing.com - Oil prices were steady on Thursday, following an unexpected decline in U.S. crude inventories as refineries continued to hike output and imports fell.
Brent futures were at $39.97 a barrel at 11.52 GMT
Crude futures edged up 8 cents to $37.83 a barrel.
Prices were supported by an unexpected fall in crude inventories, albeit from a record high, last week.
U.S. crude supplies fell by 4.9 million barrels last week the Energy Information Administration said Wednesday, compared with analysts' expectations for an increase of 3.2 million.
But prices were likely to remain volatile ahead of the 17 April meeting where key oil producers are expected to discuss a coordinated production freeze.