Oil prices were little changed on modest volume on Thursday, in a week in which crude benchmarks recouped more of March's losses on increased hopes world supply and demand were nearing balance. It comes at the same time the U.S. oil rig count rose to its highest level in two years, threatening the re balancing of markets. Energy services firm on Thursday that drillers added 11 oil rigs in the week to April 13, bringing the total count up to 683. 

The number of U.S. rigs has increased for 13 consecutive weeks. The market has been oversupplied since mid-2014, prompting members of the Organization of the Petroleum Exporting Countries and some non-OPEC producers to agree to cut output in the first six months of 2017.

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