The West Texas Intermediate for December delivery added 25 cents, or 0.3 percent, to settle at 81.59 dollars a barrel on the New York Mercantile Exchange. Brent crude for January delivery increased 23 cents, or 0.28 percent, to close at 82.87 dollars a barrel on the London ICE Futures Exchange.
On Wednesday, the U.S. crude benchmark and Brent shed 3.3 percent and 2.5 percent, respectively.
Traders weighed risks from both the supply and the demand sides.
The U.S. Energy Information Administration (EIA) reported on Wednesday that the nation's crude oil inventories increased by 1.0 million barrels during the week ending Nov. 5, roughly in line with analysts' estimates surveyed by S&P Global Platts.
According to the EIA, total motor gasoline inventories decreased by 1.6 million barrels last week, while distillate fuel inventories decreased by 2.6 million barrels.
In its monthly report released Tuesday, the EIA said it estimated that "world crude oil consumption has exceeded crude oil production for five consecutive quarters going back to the third quarter of 2020."
"We forecast global crude oil demand will exceed global supply through the end of the year," the EIA said in the report, adding it projected global oil stocks would begin building in 2022, "driven by rising production from OPEC+ and the United States, along with slowing growth in global oil demand."
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