The West Texas Intermediate for June delivery added 1.15 U.S. dollars to settle at 65.01 dollars a barrel on the New York Mercantile Exchange. Brent crude for June delivery increased 1.29 dollars to close at 68.56 dollars a barrel on the London ICE Futures Exchange.
Sentiment on the oil market remained upbeat despite surging COVID-19 cases in countries such as India.
Earlier this week, the Organization of the Petroleum Exporting Countries (OPEC) and its allies, widely known as OPEC+, decided to keep its planned gradual crude production increase in place, expecting a strong demand rebound this year.
OPEC+ "highlighted the continuing recovery in the global economy, supported by unprecedented levels of monetary and fiscal support, while noting that the recovery is expected to pick up speed in the second half of the year," the group said in a statement on Tuesday.
Prices also garnered some support from relatively positive U.S. economic data.
The U.S. economy grew at an annual rate of 6.4 percent in the first quarter of 2021, the U.S. Commerce Department reported Thursday.
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