* World oil demand to fall at fastest rate since 1981-IEA
* OPEC compliance with supply cuts slipping -IEA
* U.S. jobless claims rise more than expected
(Recasts, updates prices, market activity; changes dateline,
previously LONDON)
NEW YORK, May 14 (Reuters) - U.S. oil prices rose slightly
on Thursday tracking a rebound on Wall Street, though a gloomy
demand forecast from the International Energy Agency (IEA)
limited gains.
U.S. crude <CLc1> rose 14 cents to $58.16 a barrel at 1805
GMT while London Brent <LCOc1> fell 76 cents to $56.58.
The gains in U.S. crude came alongside an uptick in U.S.
equity markets led by technology stocks. []
Oil prices have been tracking equities markets in recent
months as traders look to stocks for signs of an economic
recovery that could lift ailing world fuel demand.
Gains were limited by a report from Paris-based IEA,
adviser to 28 industrialized nations on energy policy. It said
the rise in oil prices to a six-month high above $60 this week
was due to sentiment rather than fundamentals.
The report said consumption was set to fall by 2.56 million
barrels per day (bpd) in 2009, the steepest amount since 1981.
[]
The U.S. Energy Information Administration and OPEC also
cut their forecasts for energy demand in recent days.
"The IEA report comes after the DOE and OPEC versions this
month, which might lessen its impact, but it tells the same
story as the others," said Tim Evans, energy analyst, Citi
Futures Perspective, New York. "Demand is falling short of
expectations."
The Organization of the Petroleum Exporting Countries
(OPEC), which has announced 4.2 million bpd of production cuts
since September in a bid to tighten the market, also pumped
more oil last month than in March, the IEA said.
OPEC members' compliance with production quotas has fallen
to 78 percent in April from 83 percent a month earlier.
The producer group next meets on May 28, and is unlikely to
alter production limits if prices remain strong, Iraq's oil
minister said Thursday. []
Unrest in Nigeria, Africa's biggest oil producer, provided
some support for oil prices.
Nigeria's main militant group on Wednesday ordered oil
workers in Africa's biggest oil producer to leave the delta
within 24 hours following heavy clashes between MEND and
security forces.
The Movement for the Emancipation of the Niger Delta (MEND)
on Thursday gave oil companies an additional 48 hours to
evacuate their staff, but threatened to attack helicopters and
planes after the deadline. []
A security source working in the oil industry said it was
taking the threat seriously, but there were no plans to
evacuate staff.
(Reporting by Richard Valdmanis in New York, Chua Baizhen in
Singapore and David Sheppard in London; Editing by David
Gregorio)
