Mubasher: Oil futures closed up on Wednesday, supported by output reduction data and potential successful trade talks between the US and China.

March Nymex WTI increased by $0.8, or 1.5%, to close at $53.9 per barrel.  

The US crude oil inventories climbed by 3.6 million barrels to 450.8 million barrels in the week ended 8 February, official data by the Energy Information Administration (EIA) showed.

Crude output by members in the Organization of the Petroleum Exporting Countries (OPEC) dropped by 797,000 bpd month-on-month to average 30.81 million in January from 31.6 million bpd in December.