Oil prices were slightly firmer yesterday, with a brighter economic outlook in the world?s largest consumer and security worries in the Middle East keeping prices buoyant.

New York crude futures have gained more than $2 a barrel in the past five trading days on further signs of an economic recovery in the United States and a deadly bombing in Saudi Arabia, which raised worries about supply disruption from the world?s largest crude exporter.

The key December New York crude futures contract was up 16 cents at $31.04 a barrel at 0807 GMT in Asian trading yesterday.

But trading activity was subdued as traders waited for fresh data on US fuel stocks after a surprise drawdown in data last week rekindled buying interest among hedge funds.

Analysts polled by Reuters predicted the US government?s Energy Information Administration report, due out tomorrow covering the week ended November 7, would show crude supplies fell while stocks of distillates and gasoline rose modestly following lower demand and steady refinery runs.

An apparent assassination attempt on an Iraqi oil company executive further heightened market fears over Middle East supply security following a weekend bombing in Riyadh that killed at least 18 people.

Gunmen shot and wounded Mohammed al-Zibari, distribution manager for the Oil Distribution Company, in the northern Iraq city of Mosul on Monday.

Zibari said the attackers, armed with AK-47s, killed his son who was travelling with him.

With signs of rising demand in the United States and winter heating supplies remaining below comfort levels, the market will also be looking for signs on what action ministers of the Organisation of the Petroleum Exporting Countries might take when they meet on December 4 to determine output levels for the first quarter of 2004.

The producer cartel surprised the market with a 3.5 percent, or 900,000 barrel-per-day, supply cut effective November 1. The group?s new production ceiling stands at 24.5 million bpd.