Despite this, analysts said the recent oil price rally, which has lifted crude by around 14 percent since early December, may be about to run out of steam.
While enjoying the extra revenues, the Organization of the Petroleum Exporting Countries, Russia and their allies remain wary of sending prices so high that USA shale production climbs even faster and the market becomes oversupplied again.
Brent crude futures were at $69.34 at 0753 GMT, down 4 cents from their last close.
Both contracts climbed to their highest levels since December 2014 this week with Brent reaching $70.37 on Monday and WTI up to $64.89 on Tuesday. WTI Crude oil futures are quoting at $64.23 per barrel, up 0.45% on the day.
Markets were also supported by a drop in available crude inventories. "This would put the US on par with Saudi Arabia and Russia's output", said Fawad Razaqzada, market analyst at future brokerage Forex.com.
The Organization of the Petroleum Exporting Countries and Russian Federation have been curbing production since January 2017; the cuts are set to last through 2018.
Oil prices rose on Wednesday on tightening supply and strong global demand although some analysts warned of a downward correction after a more than 13per cent price rise in a month.
Congo's oil sector was badly hurt by the global dip in prices and a slowdown in its own output since 2014, but it has been rejuvenated by new projects scheduled to boost output by a quarter to 350 000 barrels per day (bpd) this year.
In what seems to be shaping up as the analytical community and media fomenting over a non-issue, crude market gains on Wednesday caused experts to complain that oil prices have reached excess levels and this will only stimulate USA output - which in turn will cause the Organization of the Petroleum Exporting Countries (OPEC), who are the masterminds of the gains via its production cutbacks - to abandon its strategy prematurely.
The firm said the reasons for this expected slowdown were an expected rise in USA oil output as well as a slowdown in demand growth.
Data from the American Petroleum Institute (API) on Wednesday showed a well supplied fuel product market, which could mean lower crude demand going forward. USA refinery crude runs fell by 420,000 barrels a day and refined product stocks rose.
This week, the API reported another, although smaller, build in gasoline inventories of 1.782 million barrels for the week ending January 12.
Apple's next iOS update will include feature that lets users disable power management feature that slowdown iPhone performance. He added, that if users so desire, they will also be able to turn off throttling, but of course, it's not recommended.
He also notes that "The only reason this statement was issued is because people were outraged by USAG's behavior toward Ms. The Olympian responded later that day in a statement released by Manly. "I pray the rosary every day for forgiveness.
Netanyahu will then proceed to the nearby Nariman House, where he will meet 11-year-old Moshe Holtzberg. He produces drone which goes up the sky and identifies landmines, it'll save lives, " Netanyahu said.
What's more, despite the positive run of labour market data, wage growth remains weaker than the Bank had expected. The Bank of Canada has raised its interest rate for the third time in less than a year.
Menendez said he hoped it was clear to Kelly that "they're going to have to come more to the center if they truly want a fix". Whether the government shuts down or not, it seems certain that we're headed for at least a few more days of brinksmanship.
Timothee Chalamet said he'll donate his salary for an upcoming Woody Allen film to charities fighting sexual harassment and abuse. Farrow, now 32, has reignited her claims in light of the wave of sexual misconduct allegations in Hollywood.
The UN Office for the High Commissioner for Human Rights has also criticized Israel for how it is dealing with Tamimi. Many Palestinians have embraced Tamimi as a symbol of resistance to Israel's 50-year military occupation.
Paralympians will also receive this smartphone and their phones will come with cases that will have the Paralympic Games logo. The specifications of this limited edition variant of Galaxy Note 8 is similar to that of the standard variant.
As part of its five-year investment plan, Apple said it will build another headquarters and hire some 20,000 people. Apple said its repatriation tax on overseas profits "would likely be the largest of its kind ever made".
On Saturday, panic spread through Hawaii after a warning went out that the USA island state was the target of a ballistic missile. Below, officials say is the new screen grab which "better represents" the design, according to the Civil Beat.
After sentencing Antoine, Judge Marilyn Gray told her, "Honor your friend by becoming a positive member of the community". Though Antonine said she didn't remember strangling Gargol, she did not deny that she killed her, according to CBC .
Moto Z3 and Z3 Play images surface online
With that Motorola is going to accommodate a 5.9-inch Full HD+ display, which won't seem that big due to a compact body. Now, a new prototype of the Moto G6 Plus has been spotted in the wild, which gives a glimpse of the upcoming device.
State Dept. of Health: Flu Deaths Statewide 50 as of Jan
The Centers for Disease Control and Prevention has cancelled nuclear disaster talk to instead focus on the nation's Flu outbreak. Symptoms can include cough, sore throat, muscle aches, headache, chills, feelings of extreme tiredness, and fever.
Vikings put euphoria behind them and focus on Eagles
Ever since the defense allowed 29 points to the New York Giants in Week 15, defenders have made the end zone almost impenetrable. Both teams are expected to smother the run like they have all season, ranking first and second in the league in that department.
Federer and Djokovic take control in Melbourne
The third seed was philosophical afterwards, saying: "She's definitely a very tricky opponent, and even more if she plays well". Also advancing were No. 8 Caroline Garcia , who beat Marketa Vondrousova 6-7 (3), 6-2, 8-6, and No. 26 Agnieszka Radwanska .
Wal-Mart starts program to dispose of unused opioids
Walmart, which does not accept returned drugs, already sells a medication disposal pouch that neutralizes drugs. By 2002, death certificates listed opioid poisoning as a cause of death more commonly than heroin or cocaine.