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London - Oil prices steadied on Thursday after rising the previous session thanks to news of a fall in US output that eased concerns over a supply glut.
At about 13:00, US benchmark West Texas Intermediate for delivery in June stood at $44.20 a barrel - unchanged from Wednesday's close.
Brent North Sea crude for June delivery edged up two cents to $45.80 a barrel.
Prices had surged 4% to near five-month highs on Wednesday after the US energy department revealed the dip in the country's crude production last week to levels not seen since October 2014.
Rising US shale production has been a key contributor to the global oversupply, along with elevated output from other producers including Saudi Arabia and Russia.
Reports that Iraq is pushing for new talks among producers after the collapse of the Doha gathering Sunday aimed at tackling excess supplies had also provided strong support to crude futures on Wednesday.
The Doha meeting fell apart after kingpin Saudi Arabia pulled out owing to bitter rival Iran's refusal to impose output limits. Tehran said it was still in the process of raising production after the removal of nuclear-linked Western sanctions in January.
