 Opec is not going to discuss output levels at a summit this weekend |
US light, sweet crude gained 48 cents to $93.91 a barrel. London Brent crude was up 52 cents at $90.75.
The Opec members' leaders are set to hold a summit in Riyadh this weekend, but they are not going to discuss output levels.
The group argues that current supplies are adequate.
Opec said on Thursday oil demand in the last quarter of 2007 would rise by 1.97%, less than predicted in October.
On Friday, Venezuela's oil minister Rafael Ramirez told reporters there was no need to raise output levels at the group's policy meeting in December.
"No, there is enough oil in the market," he said in the Saudi capital.
Winter forecasts
The US government reported on Thursday that domestic stocks of crude had jumped by 2.8 million barrels. 
A surprise rise in US crude stockpiles eased some analysts' concerns of a supply shortfall in the winter months, but other experts remained cautious.
"A rebound in US crude stocks, due in part to a one-off backlog of imports, was... less bearish than it appeared, focused as it was on the relatively insulated West Coast," said Antoine Halff, energy analyst at Fimat.
But Tobin Gorey, a strategist with Australia's Commonwealth Bank said forecasts for a milder than normal winter in the north eastern US would probably lead to a further fall in demand.
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