Oil prices steady as U.S. supply shrinks

Oil prices were steady after U.S. government data showed domestic inventories of crude oil, gasoline and heating oil fell last week.

The Department of Energy, US, said domestic inventories of crude oil fell by 1.1 million barrels last week to 339.7 million barrels, or 5.4 percent above year ago levels.

Cold weather spurs demand for heating oil, pushing prices higher.

Prices were driven above $62 a barrel after a storm in the United States last week and comments from key members of the Organization of Petroleum Exporting Countries that suggest the cartel will push for further cuts in output when it meets Dec. 14 in Nigeria.

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