Oil prices stabilized on Thursday, but remained under pressure as rising U.S. production and inventories threatened to undermine a rally sparked by tightening world supply.
U.S. light crude ended the session down 19 cents to $55.14, posting its a fourth straight day of declines and the weakest closing price in two weeks.
Brent crude oil fell 32 cents a barrel to $61.55 by 2:14 p.m. ET (1814 GMT), on track for its fifth consecutive drop.
Oil prices have slipped from the two-year highs hit last week by both crude benchmarks on signs that U.S. supply is rising and could potentially undermine OPEC's efforts to tighten the market.
Concerns about consumption also emerged after the International Energy Agency cut its forecast for demand growth in 2017 and 2018.