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U.S. oil on Thursday moved away from one-week lows touched the session before, with investors turning their attention to upcoming government data on U.S. inventories. 

Sentiment in oil markets has been torn between expectations of a rebound in U.S. shale production and hopes that oversupply may be curbed by output cuts announced by the Organization of the Petroleum Exporting Countries (OPEC) and others. 

U.S. West Texas Intermediate (WTI) crude oil futures  were trading up 38 cents at $51.46 per barrel at 0035 GMT, after dropping to a one-week low on Wednesday at $50.91 a barrel. 

Brent crude  , the international benchmark for oil prices, was yet to trade after closing down 2.8 percent in the last session.