Oil prices rose in early trading on Thursday, clawing back a part of the 6 percent slump in the previous session after a shock jump in U.S. crude inventories and record Saudi output, although analysts said sentiment remained bearish.
A 10.95 million barrel surge in U.S. crude stockpiles to 482.4 million, the biggest gain in 14 years, and Saudi oil production of 10.3 million barrels a day in March had battered crude futures on Wednesday.
Overall sentiment remains bearish due to high production and modest demand.
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