The Energy Information Administration released its weekly report on U.S. crude stocks, showing a drop of 0.9 million barrels in the week ending November 25, adding to the previous reading's 1.3M drop, and besting expectations of a 0.7M rise.
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U.S. stock indices rose on Wednesday, buoyed by sharply higher oil prices, which jumped by 8% as OPEC finalizes a production deal to cut production during its current meeting in Vienna.
MoreU.S. pending home sales rose 0.1% in October, matching expectations and down from September's 1.4% rise, revised lower from 1.5%.
MoreU.S. Chicago manufacturing PMI jumped to 57.6 in November from October's 50.6, besting expectations of 52.1 easily.
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