Crude oil futures shrugging off the data showing OPEC compliance with production cuts fell to its lowest level in six months, moved higher on Thursday, as data showed an uptick in global demand for oil. According to the International Energy Agency (IEA) supply of oil rose by 720,000 barrels a day (bpd) in June, nearly half 340,000 barrels per day of the uptick in supply came from OPEC countries.

Benchmark crude oil futures for August delivery added $0.59 or 1.3 percent to $46.08 on the New York Mercantile Exchange. In London, Brent crude for August delivery ended up by $0.63 at $48.37 a barrel on the ICE.

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