Having recovered from the losses suffered earlier in the session after the confirmation of a meeting of oil producers and major news of delays to projects and job cuts in the energy sector in the United States.
Venezuela confirmed that a meeting of oil producers will be held in mid-March and will also include Russia, Saudi Arabia and Qatar in an effort to stabilize crude prices, which have fallen by 70 percent over 20 months.
The four countries involved in the effort to make the oil producers in OPEC and outside the freeze production at January levels. Many traders believe that the market need to reduce production and not freeze to overcome the glut in global supply.
US crude ended the decades to the nearest trading session 92 cents higher, or 2.9 percent entitlement to $ 33.07 a barrel after they fell more than a dollar at the lowest level in the session.
Brent climbed 88 cents, or 2.6 percent recorded at the settlement of $ 35.29 a barrel, the highest level in three weeks. It was also dropped more than a dollar earlier in the session.
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