By Fayen Wong

SINGAPORE, Sep 28 (Reuters) Oil nudged to a seven-day high just above a barrel on Thursday, building on the previous day's SINGAPORE, Sep 28 (Reuters) Oil nudged to a seven-day high just above $63 a barrel on Thursday, building on the previous day's $2 leap as traders awaited clearer signs from OPEC on whether it would cut output to counter swelling U.S.

inventories.

U.S. crude rose 21 cents to $63.17 a barrel, having bounced back from a brief slump to Wednesday's $60.10 low after data showed large U.S. fuel builds.

London Brent gained 26 cents to $62.47 a barrel.

''Prices have gone up because the market was oversold.

People are getting worried about prices looking too cheap and that OPEC could step in,'' said Tetsu Emori, chief commodities strategist at Mitsui Bussan Futures.

Prices briefly dipped below the $60 mark on Monday, drawing a mixed response from members of the Organization of the Petroleum Exporting Countries (OPEC), which pumps more than a third of the world's oil.

Edmund Daukoru, OPEC's president, told Reuters on Tuesday ''something needs to be done to steady the price.'' But Kuwaiti Oil Minister Sheikh Ali al-Jarrah al-Sabah said on Wednesday, that with U.S. crude above $61, most OPEC ministers were content with prices and not inclined now to reduce output.

''Now, there is no inclination to make any amendment,'' Kuwait's Sheikh Ali told Al Arabiya television, a view echoed on Wednesday in fellow OPEC countries Libya and Qatar.

Last week, Ali al-Naimi, oil minister for Saudi Arabia -- the world's top oil exporter -- also described a U.S. crude price of around $62 as reasonable.

Rumblings from OPEC overshadowed seemingly bearish U.S.

inventory data, which showed a 6.3 million barrels build in gasoline stocks -- nearly 13 times more than expected -- while crude imports hit the third-highest level ever. S] Stocks of distillates increased by a bigger-than-forecast 2.6 million barrels, with the largest rise coming from heating oil as companies beef up stocks ahead of the U.S. winter.

Oil in New York has fallen from a July peak of $78.40 because of rising U.S. fuel stocks, easing economic growth and diminishing political tensions over Iran's nuclear stand-off -- the steepest drop since the 1991 Gulf War.

Some analysts say the glut in U.S. inventories, along with a forecast warmer-than-usual winter, could push oil prices below $60 in the next two months, though Mitsui's Emori said that would likely draw in new buyers.

''There are many buyers waiting for prices to drop below $60, but most people are waiting to sell at a $63 to $65 range.

So the market is generally adopting a wait-and-see attitude,'' he added.

REUTERS KR HS1124 leap as traders awaited clearer signs from OPEC on whether it would cut output to counter swelling U.S.

inventories.

U.S. crude rose 21 cents to .17 a barrel, having bounced back from a brief slump to Wednesday's .10 low after data showed large U.S. fuel builds.

London Brent gained 26 cents to .47 a barrel.

''Prices have gone up because the market was oversold.

People are getting worried about prices looking too cheap and that OPEC could step in,'' said Tetsu Emori, chief commodities strategist at Mitsui Bussan Futures.

Prices briefly dipped below the mark on Monday, drawing a mixed response from members of the Organization of the Petroleum Exporting Countries (OPEC), which pumps more than a third of the world's oil.

Edmund Daukoru, OPEC's president, told Reuters on Tuesday ''something needs to be done to steady the price.'' But Kuwaiti Oil Minister Sheikh Ali al-Jarrah al-Sabah said on Wednesday, that with U.S. crude above , most OPEC ministers were content with prices and not inclined now to reduce output.

''Now, there is no inclination to make any amendment,'' Kuwait's Sheikh Ali told Al Arabiya television, a view echoed on Wednesday in fellow OPEC countries Libya and Qatar.

Last week, Ali al-Naimi, oil minister for Saudi Arabia -- the world's top oil exporter -- also described a U.S. crude price of around as reasonable.

Rumblings from OPEC overshadowed seemingly bearish U.S.

inventory data, which showed a 6.3 million barrels build in gasoline stocks -- nearly 13 times more than expected -- while crude imports hit the third-highest level ever. S] Stocks of distillates increased by a bigger-than-forecast 2.6 million barrels, with the largest rise coming from heating oil as companies beef up stocks ahead of the U.S. winter.

Oil in New York has fallen from a July peak of .40 because of rising U.S. fuel stocks, easing economic growth and diminishing political tensions over Iran's nuclear stand-off -- the steepest drop since the 1991 Gulf War.

Some analysts say the glut in U.S. inventories, along with a forecast warmer-than-usual winter, could push oil prices below in the next two months, though Mitsui's Emori said that would likely draw in new buyers.

''There are many buyers waiting for prices to drop below , but most people are waiting to sell at a to range.

So the market is generally adopting a wait-and-see attitude,'' he added.

REUTERS KR HS1124