Oil prices have increased by more than 1% following a fall in US crude stocks and striking oil workers in Norway.

Brent crude futures were up 65 cents at $46.53 a barrel, while the US West Texas Intermediate (WTI) crude futures increased 85 cents at $44.90 a barrel, Reuters reported.

Data released by the American Petroleum Institute data highlighted a 7.5 million barrel fall in US crude stocks to 507.2 million. 

The strike in Norway is expected to impact output.

"OPEC members will not agree on a production freeze."

Japan’s Ministry of Finance said that last month that crude imports in the country increased 0.5% from the same month last year and reached 3.38 million barrels a day.

However, oil markets are still oversupplied as exporters worldwide are pumping near-record amounts.

Next week, oil producers from the Organisation of the Petroleum Exporting Countries (OPEC) and Russia are set to meet in Algeria to discuss measures to reduce oversupply, and regarding an output freeze proposal.

BMI Research told the news agency: "OPEC members will not agree on a production freeze… Political tensions will prevent cohesion, and individual members will continue to protect market share from resilient non-OPEC producers."