Oil prices were up on Wednesday with increases in refinery production in China, and clear indicators that demand for crude oil is on the rise in the world's second largest oil consuming country.
International benchmark Brent crude was trading at $72.03 per barrel at 0655 GMT with a 0.26% gain after closing Tuesday at $71.84 a barrel.
American benchmark West Texas Intermediate was at $64.47 a barrel at the same time for a 0.2% increase after ending the previous session at $64.34 per barrel.
Refinery output in China during March increased 3.2%, from the same period a year ago, to reach 12.5 million barrels per day, according to China's National Bureau of Statistics earlier on Wednesday.
With higher refinery output, crude oil demand increased and pushed oil prices higher.
On the supply side, U.S. sanctions on Iran and Venezuela continue to lower crude oil production and exports from these countries.
In addition, tensions in Libya have also a negative impact on secure oil supply from the country.
By Ovunc Kutlu
Anadolu Agency
energy@aa.com.tr