The report came on the same day that Secretary of State Mike Pompeo was due to meet with senior USA oil executives at the CERAWeek by IHS Markit conference in Houston to discuss boosting crude exports and advancing America's position as a global energy powerhouse, according to people with knowledge of the meeting.
International Brent crude oil futures were at $66.85 a barrel at 0341 GMT, up 18 cents, or 0.3 percent, from their last close.
The International Energy Agency said U.S. shale oil will make up 70pc of the extra global crude supply by 2024, eating into the market share of Opec and Russian Federation.
Oil prices have been offset this year by OPEC members' output cuts, which they agreed upon last year, while U.S. sanctions on the oil industries of OPEC countries Iran and Venezuela have also pushed supplies down.
Iran has lost $10 billion in revenue since U.S. sanctions in November have removed about 1.5 million barrels per day (bpd) of Iranian crude from global markets, a U.S. State Department official said on Wednesday.
Venezuela's opposition-run congress on Monday declared a "state of alarm" over a five-day power blackout that has crippled the country's oil exports and left millions of citizens scrambling to find food and water.
"When you have a better supplied oil market it enables us to accelerate our path to zero".
Gasoline stocks fell by 4.6 million barrels, almost double analysts' expectations in a Reuters poll for a 2.5 million barrels drop. Distillate inventories also increased by 195,000 barrels, compared to an expected draw of 1.858 million barrels for the week.
Crude production is set to continue expanding in the United States thanks to shale oil, with the country becoming a net exporter from 2021, according to a report released by the International Energy Agency (IEA) on Monday. Traders are looking for a 2.7 million barrel build, but expectations could change to reflect the API data as we approach the regular session opening and report time. US sanctions on Venezuela has further tightened markets.
"This shows Saudi Arabia's resolve to keep the oil market balanced by keeping oil supply tight", said Carsten Fritsch, an analyst at Commerzbank.
Frost says two other Canadian cities - Toronto and Ottawa - made the top 20, with Montreal at 21st and Calgary at 32nd. San Francisco topped all US cities at No. 34, followed by Boston (36), Honolulu (27), and NY (44).
Months later, the USA ambassador to Israel, David Friedman, said Israel will hold on to the Syrian territory indefinitely. Israel has occupied the area for more than 50 years after it was captured from Syria during the 1967 Six-Day War.
India's National Disaster Response Force said it had sent a team to the site over fears that people may be trapped under rubble. Following the mishap, the civic body made a decision to undertake a structural audit of all the bridges in the city.
New Zeland police tweeted that officers responded to a "serious ongoing firearms incident" at approximately 1:40 p.m. He said some managed to escape through windows and doors but "many people had been hit, some as young as 16".
The US Republican-led Senate has approved a bill to end US support for the Saudi-led coalition war in Yemen . It is the second time the Senate has approved a measure that would curb US military involvement in Yemen.
Felicite Tomlinson: Instagram influencer dies aged 18
This heartbreaking news comes just two years after Louis lost his mum, Johannah, after a long battle with leukaemia . Felicite was well known on social media and regularly shared posts with her 1.3 million followers on Instagram .
Japanese space agency, Toyota to speed moon vehicle project
The now unnamed vehicle would have its sights set on the moon, although Mars is still an area of interest for space exploration. The challenge of space travel would be for Toyota , as it is for anyone looking towards the final frontier, is durability.
Militao: new Real Madrid signing
Manchester United are also believed to be showing an interest in the midfielder, as the two Premier League rivals potentially lock horns.