OIL held near $63 a barrel after U.S. crude stockpiles declined and trade tensions between the United States and China showed tentative signs of easing.
However, other reports say Russian production may be rising as the Kremlin does not want to lose market share.
Moreover, the oil output in Venezuela continues to decline.
The report said initial jobless claims climbed to 242,000, an increase of 24,000 from the previous week's revised level of 218,000.
US West Texas Intermediate (WTI) crude for May delivery was up 27c, or 0.4%, at $63.64 a barrel by 4.45am GMT after settling down 14c.
Oil also got support from firm global equities, as the United States expressed willingness to negotiate a resolution on trade after proposed USA tariffs on $50 billion in Chinese goods prompted a quick response from Beijing that it would retaliate by targeting key American imports.
The energy minister of OPEC member Qatar told Reuters that organization and its allies should maintain supply cuts. The contract rose 50c to $63.51 on Tuesday. Total volume traded on Thursday was about 23 percent below the 100-day average.
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United States oil inventories shrank the most since January, according to government data on Wednesday, in contrast to a forecast expansion.
In the United States, production likely also continued to grow, after two weeks ago it hit another high of 10.433 million bpd.
Consultancy JBC Energy estimates OPEC crude production rose 65,000 barrels a day in March to just under 32 million barrels a day, below its self-imposed ceiling of 32.5 million barrels a day.
A day earlier, the American Petroleum Institute surprised traders with a crude oil inventory draw of 3.28 million barrels, versus analyst expectations of a modest build.
Buyers initially supported the markets because the American Petroleum Institute (API) reported a surprise draw of 3.28 million barrels of US crude oil inventories for the week-ending March 30, after analysts had anticipated a modest build in crude oil inventories of 246,000. Contributions of 200 words or more will be considered for publication.