Oil prices have risen following a fall in oil drilling rig numbers in the US that indicated hopes of lower crude production.
Brent increased 89 cents at $33.90 a barrel, while the US crude futures rose above $30 a barrel, Reuters reported.
ABN AMRO in Amsterdam senior energy economist Hans van Cleef told the news agency: "Positive sentiment on the stock market and the impact of the lower US rig count gives some support to oil prices."
Data revealed by Baker Hughes highlighted a decline in the number of rigs by 26 to 413 by US oil drillers.
The fall in numbers indicated prospects for a slump in output from the US, easing oversupply globally.
The number of rigs declined sharply since oil prices began to fall.
At present, there are about 68% fewer rigs of all kinds from a peak of 1,609 in October 2014, The Wall Street Journal reported.
Crude stocks of 504.1 million barrels in the US also weighed on markets, countering a proposal to freeze output at January levels by Russia and the Organization of the Petroleum Exporting Countries (OPEC).
