Investing.com - Oil steadied at lower levels Thursday as the Federal Reserve raised its target rate and pointed to three more hikes next year.
U.S. crude rose 5 cents, or 0.10%, to $51.09 at 08:00 ET. Brent crude added 0.59% to $54.22.
Crude had fallen by as much as 3% Wednesday ahead of the outcome of the Federal Reserve decision.
Oil received some relief from a larger-than-expected fall in U.S. crude inventories.
Official Energy Information Administration inventories figures showed a fall of 2.56 million barrels in U.S. crude stocks.
The key to the future rests in the level of compliance with agreed cuts in output of 1.8 million barrels a day.
The dollar index hit 14-year highs at the 103 mark. A stronger dollar weakens demand for oil.