HOUSTON, Nov. 14 (Xinhua) -- The American Petroleum Institute (API) on Wednesday reported a buildup of 8.79 million barrels in the U.S. crude oil inventories for the week ending Nov. 9.

The institute reported an increase of 7.83 million barrels in the oil inventories for the previous week.

U.S. oil prices rebounded 1.01 percent Wednesday on hope of production cut by the Organization of the Petroleum Exporting Countries (OPEC).

The West Texas Intermediate (WTI) for December delivery gained 0.56 U.S. dollar to settle at 56.25 dollars a barrel on the New York Mercantile Exchange, while Brent crude for January delivery grew 0.65 dollar to close at 66.12 dollars a barrel on the London ICE Futures Exchange. Enditem