Brent traders said market was quiet with many participants away for the Christmas holidays

Crude gained support from the latest snapshot of U.S. supplies on Wednesday. Crude inventories, which were expected to rise, fell 5.88 million barrels, the Energy Information Administration said.

Baker Hughes reported that U.S. oil drillers cut rigs for a fifth week in the last six, a sign that low prices are curbing activity and could slow output.

Brent has more than halved from more than $100 a barrel 18 months ago, pressured by a supply glut that according to OPEC figures exceeds 2 million barrels per day.

Next year, the glut is expected to be smaller as world demand rises and the price collapse leads to lower output from some countries outside OPEC, but there is no sign yet that OPEC itself is prepared to lower its supply – which is likely to rise when sanctions on Iran are lifted.