U.S. crude futures settled up 50 cents at $67.38 per barrel on Wednesday after data showed a tumble in U.S. crude inventories even as a report suggested Saudi Arabia expects still lower prices for oil.
The U.S. government's Energy Information Administration said crude stocks fell by 3.7 million barrels last week, versus analysts' expectations for a build of 1.3 million barrels. The data pushed up crude prices on the New York Mercantile Exchange.
The Wall Street Journal reported that Saudi Arabia, OPEC's biggest producer, believed oil prices could stabilize at around $60 a barrel. The Journal report, citing people familiar with the situation, pushed Brent lower.
Exxon Mobil's CEO Rex Tillerson, meanwhile, told CNBC in an interview the firm's decision to invest in America's shale oil sector was made by ensuring it could withstand prices ranging from $120 a barrel to $40.