Mubasher: Crude oil prices rose by the end of Wednesday’s trade, for the second session in a row, after the US stockpiles showed a decline exceeding estimates.
Meanwhile, there is a growing positive sentiment regarding extending the OPEC output deal.
Nymex futures rose 0.3% to $53.04 per barrel, marinating its highest level in 3 weeks.
Brent increased by 0.5% to $58.16 per barre, by 07:43 PM (GMT).
US crude inventories fell by 5.7 million barrels last week, according to the data of the Energy Information Administration (EIA), which also expects strong growth in the production of shale oil fields by around 81,000 barrels per day (pbd) in November.
