US crude inventories fell 884,000 barrels in the week to Feb 17
Around 30 supertankers have this month made long-haul trips to ship crude oil across Asia
Brent crude oil jumped $1.13 a barrel to a high of $57.31 before easing to trade around $57.15
US West Texas Intermediate crude futures traded up 56 cents at $56.56 a barrel
On February 3 the Republican-controlled Senate passed a resolution to scrap the requirement entirely
The Brent premium over WTI narrowed to $2.09 a barrel at the close, its smallest since Jan 19
Despite the Opec cuts, US crude inventories rose by more than expected last week
Most of America's shale industry needs prices above $60 a barrel to justify new projects
Oil futures pared gains immediately after weekly US supply data showed a bigger build than expected
Futures were little changed in New York after falling 1.1 per cent on Friday
NYMEX crude for March delivery was down 27 cents at $52.90 a barrel
Energy consumption will grow by 4.2 per cent per annum
Russia and other key exporters outside OPEC have said they will also cut output
OPEC Secretary-General Mohammed Barkindo said he was sure countries would follow through on the deal
Futures climbed 1% in New York after dropping 5.9% in the previous two sessions
Reduces February term supplies of mainly heavy crude oil; part of the move to comply with Opec deal
Analysts expect oil cos to report strong earnings in Dec led by inventory gains, recovery in margins
Overall supply from Opec in Dec fell to 34.18 mn bpd from a revised 34.38 mn bpd in Nov
Investors are showing no sign of turning their backs on oil heading into 2017
WTI crude futures were down 13 cents at $53.77 after settling up 88 cents at $53.9 a barrel in the last session