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Oil climbed from a two-week low amid speculation that the buildup of U.S. crude inventories will soon end as refinery demand increases.

Technology can be used to increase the world’s proven oil and gas reserves by two-thirds — almost double the amount needed to meet demand through 2050 — keeping energy supplies plentiful and affordable, according to BP.

The United States plans to sell millions of barrels of crude oil from its Strategic Petroleum Reserve from 2018 until 2025 under a budget deal reached Oct. 26 by the White House and top lawmakers from both parties.

Oil at $50 a barrel is a “gift to the world” as prices should be low enough to spur economic growth, according to the head of Abu Dhabi’s Department of Economic Development.

Oil slipped, capping the lowest quarterly average price since the start of 2009 as U.S. crude inventories climbed.

Oil jumped the most in more than six years, caught up in a relief rally that swept the globe as the U.S. economy grew more than predicted.

If crude’s slump back to a six-year low looks bad, it’s even worse when you reflect that summer is supposed to be peak season for oil.

Oil sank to a six-year low Aug. 13 as rising crude output and signs that China’s economy is weakening increased concern that a global surplus will worsen.

Oil rose from the lowest level in almost five months in New York as Chinese crude imports climbed to a record in July.