US shale oil producers are ramping up output denting OPEC's efforts to fight a global supply glutMore
Saudi Arabia, OPEC's biggest producer, is said to favour extending the supply curbs when the group meets next month, in line with the views of fellow members such as Kuwait and Venezuela.
"The signs are that OPEC has delivered on the output cuts and while they continue to do so, that'll put a floor under oil prices", said Michael McCarthy, chief markets strategist at CMC Markets in Sydney.
"It is now half time for the six-month oil production cuts agreed by Opec and eleven non-Opec countries".
The IEA made no prediction about such a likelihood, but said that a outcome of OPEC "hypothetically" renewing the deal would be to support prices more and give further encouragement to United States shale oil producers.
Oil had rallied above $US53 a barrel after some members of the Organisation of Petroleum Exporting Countries voiced support for prolonging production cuts with other nations beyond June. Meanwhile, it said, OPEC's oil production fell by 365,000 barrels a day in March as Nigeria and Libya suffered outages.
Oil prices were little changed in modest volume on Thursday, during a week in which crude benchmarks recouped more of March's losses on increased hopes world supply and demand were nearing balance. "We have an interesting second half to come", the agency added.
Chicago rapper Chief Keef charged with DUI in Miami Beach
We reached out to representatives for comment. "As such he is particularly vulnerable to police actions that seek to silence him". Meanwhile, another officer held Cozart at Taser-point because he "was moving his hands around in the vehicle", the officer wrote.
Spurs thrash Watford 4-0, close in on Chelsea
Watford remain 10th but struggled as their manager Walter Mazzarri rested his captain and highest-profile player Troy Deeney. If they fail, our job is done because we are there (behind them), but still it's up to them to win the Premier League ".
"New data shows weaker-than-expected growth in a number of countries including Russia, India, several Middle Eastern countries, Korea and the U.S., where demand has stalled in recent months", it said.
"The net result is that global stocks might have marginally increased in the first quarter, versus an implied draw of about 0.2 million barrels per day", the Paris-based IEA said.
On Thursday, the global benchmark for crude oil was up 2 cents at $55.88 a barrel.
Oil inventories in the 34-nation Organization for Economic Cooperation and Development increased by 38.5 million barrels in the first quarter to about 3 billion barrels, offsetting the decline in emerging economies, according to the IEA.
Oil prices are still around 25 per cent higher than they were a year ago, and roughly stable over the past three months, despite frequent day-to-day volatility.
Glass, Lundqvist help Rangers beat Canadiens 2-0 in Game 1
OTTAWA, Ontario - Brad Marchand broke a tie with 2:33 left and Boston held on to beat Ottawain Game 1 of their first-round series. But that's what you need to do in the playoffs. "You have a little bit of adversity but you regroup and get back at it".
Browns announce 2017 preseason schedule
During that span, the Bears lead the series, 7-6, but the Browns own a 19-13 edge in the all-time preseason series. The games can be heard on the Saints Radio Network, in the New Orleans area on WWL Radio (870 AM and 105.3 FM).
NDA Top Guns To Meet To Formulate Future Strategy
In a first, the BJP will hold a grand meeting with its allies from different states across the country in New Delhi on Monday. Asked if there was any discussion about the presidential elections, the minister categorically denied it, saying "No".
Thornwell bottled up by Gonzaga as South Carolina's run ends
Then, after a dunk by Przemek Karnowski , he fed the big man again for a layup that put the Bulldogs up 72-67 with 4:48 to play. Thornwell made the first free throw and missed the second on goal in hopes of his teammates grabbing an offensive rebound .
CSU releases 2017 hurricane forecast
This is the 34th year that the CSU hurricane research team has issued the Atlantic-basin seasonal hurricane forecast. The chance of landfall along the East Coast is 24 percent, well below the long-term average of 31 percent.