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The producing group will agree to concrete levels of production by each country at its next formal meeting in November, sources say.
OPEC might still agree an oil output-limiting deal later this year as the economic problems of its de-facto leader Saudi Arabia force Riyadh to cede more ground to arch-rival Iran.
Data from the American Petroleum Institute showed crude stocks fell 752,000 bbl in the week to Sept. 23 to 506.4 MMbbl, compared with a forecast of a 2.8 MMbbl build by analysts polled by Reuters.
Saudi Arabia on Sept. 27 dashed hopes that OPEC oil producers could clinch a deal in Algeria this week after sources within the exporter group said differences between the kingdom and rival Iran remained too wide.
Members of OPEC are meeting informally on the sidelines of the International Energy Forum in Algeria from Sept. 26-28, where they will discuss a possible deal to limit output.
Brent crude futures rose 44 cents to $47.27/bbl by 6 a.m. CT (11 GMT), or a 3.2% gain so far this week, while West Texas Intermediate oil futures were up 47 cents at $45.81/bbl.
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Crude inventories fell by 6.2 million barrels in the week to Sept. 16, compared with analysts' expectations for an increase of 3.4 million barrels. Crude stocks at the Cushing, Okla., delivery hub rose by 526,000 barrels, EIA said.
Oil took its cue from American Petroleum Institute data which showed a 7.5 MMbbl drop in U.S. crude inventories to 507.2 MMbbl, almost twice the fall expected by analysts.
Alergian Energy Minister Noureddine Bouterfa told local radio he was optimistic that participants would reach a consensus on how to stabilize the oil markets at the Algiers meeting of OPEC and non-OPEC producers on Sept. 26-28.
Brent crude oil futures were trading at $45.45/bbl at 6:28 a.m. CT (11:28 GMT), down 50 cents day on day and a near three-week low. WTI crude futures were down 44 cents at $42.86/bbl.