On the imports side, EIA said that most of the reduction in US petroleum imports was of light, sweet crude oil, as those barrels were replaced by domestic production of a similar quality.
Brent crude hit a 2019 peak of $68.14 per barrel before falling to $67.93 by 1250 GMT, up $0.38 or 0.56% from Wednesday's close. The increase in refinery output of petroleum products has outpaced the increase in U.S. consumption of petroleum products such as distillate fuel oil, gasoline, and propane, leading to an increase in exports.
Oil rallied on Wednesday on USA government data showing a surprise fall in crude inventory and a lower-than-expected estimate of US crude production growth.
The current oil price of $60-$65 per barrel are "relatively comfortable".
Growth in China's industrial output fell to a 17-year low of 5.3 percent in the first two months of the year, official data showed on Thursday, pointing to further weakness in the world's second-biggest economy and top crude importer.
As part of the deal, the kingdom lowered its crude production to 10.24 million bpd in January, from 10.64 million bpd in December, based on direct communication data, according to OPEC's Monthly Oil Market report for February.
The production cut agreement by Saudi Arabia-led OPEC and Russia-led OPEC is also contributing to the removal of additional supplies in the market to push prices higher.
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Fabio Quagliarella, Cristiano Ronaldo , Sergio Aguero and Robert Lewandowski all follow the Little Genius. The Lionel Messi side's next assignment is against Real Betis away from home in La Liga in Sunday night.
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John Vandemoor, a former Stanford University sailing coach who worked with Singer, also pleaded guilty to racketeering conspiracy. She ended up scoring a 1420 - 400 points higher than she had gotten on a PSAT taken a year earlier, according to court documents.
The EIA said the pace of demand growth could be slower than what was thought just a month ago. "It will see the United States account for 70 percent of the rise in global oil production and some 75 percent of the expansion in [liquefied natural gas] trade over the next five years".
For 2020, the government said it expected USA crude oil demand to rise by 220,000 bpd to 21.03 million bpd, unchanged from previous forecasts.
Iraq is committed to the deal and working to stabilise markets, and is producing slightly more than 4.5 million bpd, below its full capacity of almost 5 million, Ghadhban said. Brent touched $67.76 a barrel on Wednesday, its highest since November 16.
U.S. West Texas Intermediate (WTI) crude futures were at $58.62 per barrel, up 36 cents, or 0.62 percent, from their last settlement.
After cutting its output by 500,000 bpd in March from the month before, Saudi Arabia reported earlier this week on plans to limit its crude supply to below 7 million bpd.
"Opec continues to cut output amid ongoing supply issues, while the situation in Venezuela remains bleak", ANZ Bank said in a research note.