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London - World oil prices rose in London, but fell in New York, as traders digested the data of crude inventories in the United States vary, and follow the path the U.S. currency, analysts said.

Brent North Sea Crude for January delivery added 42 cents to 78.30 dollars per barrel in afternoon London trading.

The main futures contract, New York, light sweet crude January delivery slid 16 cents to 76.44 dollars a barrel, erasing earlier gains.

"Market participants may continue to be careful because inventory levels are high unexpected, not a healthy sign for crude oil demand," said an analyst at Financial Research Sucden brokerage in London.

Crude oil prices fell Wednesday, losing more than 1.50 dollars after the news about crude oil supplies in the U.S. jumped 2.1 million barrels in the week ending November 27.

The data disclosed by the government of the United States, the Department of Energy (DoE), is more than twice market expectations.

However, the DoE also reported distillate stocks decreased 1.2 million barrels. Far greater than 300,000 barrels decline forecast by analysts.

Demand for distillates, which include heating fuel, tends to rise during the year is the time winter in the northern hemisphere.

In addition, U.S. gasoline reserves have soared by four million barrels last week, according to the DoE. Analysts had expected only a 700,000 barrel increase.

In earlier trading on Thursday, oil prices' rebound sharply after heavy losses the previous day and because the response to the weak dollar, which closed at 15-month low against the European single currency.

A weaker greenback makes oil-dollar-denominated crude cheaper for buyers using stronger currencies and therefore tends to stimulate demand and prices.

However, in afternoon trading, the euro pulled back to stand at 1.5079 dollars, up from 1.5044 in New York at the end of Wednesday, because the dealers absorb the monetary policy announcement from the European Central Bank (ECB).

ECB said Thursday that will begin removing steps aimed extraordinary growth in the euro zone, while maintaining its main interest rate unchanged at a record low 1.0 percent.

Elsewhere, Kuwaiti Oil Minister Sheikh Ahmad Abdullah al-Sabah, Thursday, said the emirate does not want to change to OPEC production quotas and believe there is consensus to keep output unchanged.

Asked about Kuwait's position ahead of OPEC ministerial meeting this month, Sheikh Ahmad said: "There is no change in production."

Minister also told reporters outside parliament that he believed there was consensus among members of the Organization of Petroleum Exporting Countries to maintain production quotas.

Kuwait, with a daily production of about 2.2 million barrels per day, is the fourth largest OPEC producer.

Cartel of oil exporters, will hold the next meeting about the production on December 22 in Luanda, Angola.

Several OPEC members have said they want to keep production unchanged for the current oil price satisfactory. (*) (ANTARA News / AFP)