Investing.com - Oil futures pared back gains on Thursday, as pessimistic central bank statements reignited concerns over weak global growth.
Oil prices had rallied earlier as major producers firmed up plans to meet next month to discuss an output freeze to tackle a supply glut.
U.S. crude was up 57 cents at $39.03 a barrel at 11.57 GMT, off highs of $39.64.
Brent crude was up 0.41 cents to $40.71 after rising as high as $41.44 earlier.
A smaller-than-expected gain in U.S. inventories continued to support prices.
Crude inventories rose to a record 523.2 million barrels last week, with the 1.3 million-barrel increase still less than the 3.4 million-barrel build expected by analysts.