He also said concerns that Saudi Arabia and its partners are moving to substantially oversupply the market are "without basis". Holding production steady would mean shipping less crude than Saudi Arabia indicated after the Opec deal.
The black gold had closed decisively lower in NY on worries of excess supply, with reports that Saudi Arabia is looking to increase production.
A sharp jump in US crude oil inventories also added to the bearish tone in the market.
Solid economic and energy market fundamentals also underpinned the strongest USA petroleum demand since 2007, at 20.6 million bpd.
Crude prices pulled back from highs earlier in the session as traders cashed in on profits, said John Kilduff, a partner at Again Capital Management in NY.
The South Asian nation is already buying more crude from the US, data from the Census Bureau and Energy Information Administration show. "Escalating trade tensions between the USA and China will also be conducive to more US oil coming to the Indian market".
Despite the jump, inventories at the USA oil delivery hub for WTI in Cushing, Oklahoma were forecast to have fallen 1.8 million barrels, or 6.2 percent, through Tuesday, traders said, citing energy information provider Genscape.
"The correction in the oil price represents something of a convergence between fundamentals and physical realities", David Reid, lead crude market analyst at consultancy JBC Energy, toldReuters. Nonetheless, the jump in crude inventories may suggest that USA production is able to keep up with strong demand. U.S. Administration is actively considering releasing part of the 660-million-barrel SPR, with options ranging from a test sale of 5 million barrels to a release of as much as 30 million barrels, and even higher if coordinated with other countries.
In 2017, Turkey imported 24.9 million tons of crude oil in total, mainly from Iran (almost 50 percent) and the rest from Iraq, Russia, Kuwait and Saudi Arabia.
U.S. crude strengthened late in the session as the U.S. dollar index slipped to a four-day low, on reports that U.S. President Donald Trump worries that the Federal Reserve will raise rates twice this year. Considering that Iranian exports dropped to about 1-1.5 million bpd during the 2013-2015 period of strong economic sanctions (from around 2.5 million bpd in 2011 to some 1 million bpd at the end of 2013), depending on how many countries follow the White House's call for sanctions today, we might expect Iranian exports to fall by between 200,000 bpd and 1 million bpd.
However, comments by Saudi Arabia's Energy Ministry, pledging not to flood world markets with oil, turned the momentum around on Thursday and helped the commodity to rebound sharply from an intraday low level of $66.62.
But, I want to say this from the bottom of my heart that I am very grateful to the Prime Minister, the BJP and the RSS. With 451 members present in the House, the half-way mark was 226, which the government reached comfortably.
Belgium's Greg van Avermaet extended his overall race lead, as the yellow jersey gained three seconds by winning a bonus sprint. He had accelerated from 19 to 30km/h on a 10 per cent gradient and he went for it with a kilometre to go to the finish line.
It will be the second Grand Slam final for Anderson, who reached the final of the US Open a year ago to Rafael Nadal . Again Djokovic resisted, and again at 8-7 down. "I'm a different person, different player today", Djokovic said.
As he has done before, Trump attacked the investigation led by special counsel Robert Mueller into Russian election interference. US President Donald Trump and his Russian counterpart Vladimir Putin met in the Finnish capital of Helsinki on Monday.
The Croatian team drew increasing support for its hard-working, underdog narrative as richer, higher-profile teams flamed out. On the other side, Kolinda has been married to security analyst Jakov Kitarović since 1996 and they have two children.
He also told CBS that he was going into it with " low expectations ". "I met him a couple of times, I met him at the G20". Mr Huntsman was interviewed on NBC's " Meet the Press " and Mr Paul appeared on CNN's " State of the Union ".
Trump, in Twitter postings on July 19, also criticized media coverage of the meeting with Putin. "Problem is", Trump said. They are pushing so recklessly hard and hate the fact that I'll probably have a good relationship with Putin.
Britons should be "great independent actors" on the world stage, not "rule takers", he said. "We have time in these negotiations". Johnson paid tribute to Theresa May for "her courage and her resilience".
A jaguar escaped from a zoo in New Orleans early Saturday morning, killing six other animals before it was captured. The other is a female, named Ix Chel, who was in a separate indoor enclosure when Valerio broke out.
Trump calls European Union a 'foe'
Trump tells CBS News that he watched some of Peter Strzok's (struhkz) testimony to Congress while traveling in Europe . The collective blood pressure between the United States and Russian Federation is off the charts high.
Raps betting odds improve after trade
San Antonio coach Gregg Popovich and Kawhi Leonard part ways just two weeks after the Spurs let go of veteran Tony Parker. Toronto is improved, but enough? That deal reportedly includes trading Danny Green to Toronto as well.
Joe Root's trust in his game results in timely Test boost
Root (100 not out) and Morgan (88 not out) shared an unbroken third-wicket stand of 186 as England won with 33 balls to spare. This news will come as a relief for Indian cricket fans who were anxious after Dhoni's unimpressive show in the ODI series.
French ace wins World Cup Young Player award
France were crowned World Cup champions for the second time after beating Croatia in a game that had goals, drama and controversy. Croatia , a country of some 4.4 million, was attempting to become the smallest nation since Uruguay in 1950 to raise the trophy.