Oil prices rose on Wednesday amid a share market recovery and supported by a report that U.S. crude inventories fell last week, although analysts warned that soaring U.S. output and a seasonal demand drop could soon weigh on crude.The higher oil futures came after stock markets recovered some of their steep losses of previous days.A group of oil producers around OPEC and Russia have been withholding supplies since last year in order to tighten supplies and prop up prices. The cuts are set to last through 2018. "Evidence points to a global inventory market that has arguably already balanced – with days of forward cover in the low single digits or possibly even lower - which should support the spot price going forward," said Richard Robinson, manager of the Ashburton Global Energy fund.
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