Oil rises above $82 ahead of OPEC meeting

An industry report that showed a steep fall in US gasoline stockpiles and smaller-than-expected increase in crude inventories also helped buoy investor sentiments. US crude for April delivery was up 41c at $82,11 a barrel by 00:46 GMT, after settling up $1,90 at $81,70 on Tuesday. London Brent crude rose 42c to $80,95 a barrel.

"Oil prices continue to be supported by the soft tone of the US dollar, while the industry data showing a fall in gasoline is also somewhat supportive," said Commonwealth Bank of Australia oil analyst David Moore. The US dollar hovered near one-month lows against a basket of currencies on Wednesday as investors cut long positions after the US central bank retained its dovish bias.