Oil scrambles off April lows but oversupply still weighs

By Henning Gloystein SINGAPORE (Reuters) - Oil prices recovered slightly from April lows in early trading on Thursday, but the outlook for the industry remained weak as crude producers and fuel refiners continue to pump out more than the market can consume. U.S. West Texas Intermediate (WTI) crude was at $42.06, up 14 cents. "Oil prices were sold off heavily after the weekly EIA report showed a surprise build in crude oil inventory.