SINGAPORE, Oct 5 (Reuters) - Oil prices inched up on Thursday, clawing back some of the previous session's big losses after an OPEC+ panel maintained oil output cuts to keep supply tight, though an uncertain demand outlook capped gains.
Brent crude oil futures were 63 cents higher at $86.44 a barrel at 0335 GMT, while U.S. West Texas Intermediate crude (WTI) rose 49 cents to $84.71.
The latest data also showed a sharp decline in U.S. gasoline demand.
Finished motor gasoline supplied, a proxy for demand, fell last week to about 8 million bpd, its lowest since the start of this year, the U.S. Energy Information Administration (EIA) reported on Wednesday.
Oil prices will struggle to push higher given the more uncertain demand outlook, along with weaker U.S. economic data released on Wednesday and a significant build in gasoline inventories, he added.
Persons:
clawing, Jun Rong, Katya Golubkova, Sonali Paul, Jamie Freed
Organizations:
Brent, U.S, West Texas, of, Petroleum, National Australia Bank, U.S . Energy Information Administration, IG, Thomson
Locations:
SINGAPORE, OPEC, Russia, Saudi Arabia, U.S, Tokyo, Singapore