Investing.com - Oil prices rose on Thursday, paring some of the losses incurred a day earlier after data showed U.S. inventories had risen for a sixth week and weakness spread through the physical market.
U.S. crude edged up 0.19% to $46.41 a barrel, while Brent futures were up 0.2% to $48.68 at 7.32 AM Eastern Time.
On Wednesday, oil fell nearly 4% after the Energy Information Administration said U.S. crude inventories added 2.85 million barrels last week, despite a drop in imports to their lowest level since 1991.
Contributing to the generally bearish sentiment was an internal OPEC document seen by Reuters that showed weaker demand in the next few years for oil from the group.
OPEC oil ministers will meet on December 4 to decide whether to extend their year-old strategy of allowing prices to fall to slow higher-cost rival supply.