Saudi Arabian Oil Minister Ali al-Naimi said he expected the oil market to balance and prices to stabilise.
Crude oil has recovered to around $60 a barrel since it slumped to $45 early this year.
Brent's marked gains this month have been fuelled by production and export outages in Libya and Iraq.
Traders will be tracking Bank of England European Central Bank and Bank of Canada monetary policy meetings.
US crude oil inventories rose by 8.43 million barrels for week ended 20 February, according to EIA.
Naimi directed Opec's 2014 decision to fight for market share, instead of cutting output to support prices.
Rio Tinto boss Sam Walsh says his firm will not be bought over by Glencore because of value and regulatory opposition.
Republicans back the project as a job-creator but Democrats oppose it on environmental grounds.
Bill Gross's Janus Global Unconstrained Bond Fund is suffering because of bets on Russian and Brazilian energy bonds.
Commerzbank expects the price gap between Brent and WTI to widen even further on the back of stock trends in the US.
US Fed Reserve Chair Janet Yellen's testimony to Congress could drive US dollar higher, denting demand for gold.
Colombia aims to produce between 12.5 million and 13 million sacks of coffee in 2015 - a 400,000 sack increase on 2014.
US Wheat Associates and USA Rice Federation say developing nations are breaking international agriculture trade rules.
Saudi Arabia has fiercely protected market share since oil prices began to slide in June last year.
Analysts at Goldman Sachs and at Intelligent Investor see an opportunity in oil equities.