Oil prices ticked up on Wednesday, reversing earlier losses, despite data showing American crude inventories rose more than expected and U.S. oil output topped 10 million barrels a day in November for the first time in nearly half a century.
U.S. West Texas Intermediate (WTI) futures ended Wednesday's session up 23 cents at $64.73, posting a 7.1 percent gain on the month.
Brent crude, the global benchmark, closed up 3 cents at $69.05 a barrel, ending January 3.3 percent higher.
Prices firmed up after the U.S. Federal Reserve announced it would leave interest rates unchanged, but said it expects inflation to creep higher this year.
U.S. commercial crude stockpiles rose by 6.8 million barrels in the week through Jan. 26, according to the U.S. Energy Information Administration. That compared with analysts' expectations for a 100,000-barrel rise in a Reuters poll.