The West Texas Intermediate for January delivery gained 73 cents to settle at 45.28 U.S. dollars a barrel on the New York Mercantile Exchange, while Brent crude for February delivery increased 83 cents to close at 48.25 dollars a barrel on the London ICE Futures Exchange.
U.S. crude oil inventories decreased by 0.7 million barrels during the week ending Nov. 27, the U.S. Energy Information Administration said in a report on Wednesday.
At 488 million barrels, U.S. crude oil inventories were about 7 percent above the five-year average for this time of year.
Investors also awaited a key decision on output policy from the Organization of the Petroleum Exporting Countries and its allies, as the group had postponed their decision on production policy from Tuesday until Thursday.
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