Oil prices finished higher Thursday, buoyed by talk of an extension for a deal to cut output, a bigger-than-expected drop in U.S. crude supplies, and concerns about production as a potential hurricane approaches the Gulf of Mexico. Traders, however, remained concerned over domestic production, which reached its highest level in over two years last week.

On the New York Mercantile Exchange, November West Texas Intermediate crude rose 81 cents, or 1.6%, to settle at $50.79 a barrel, following three session declines in a row. December Brent crude the global oil benchmark, rose $1.20, or 2.2%, to end at $57 a barrel on London’s ICE Futures exchange.

Exxon Mobil Corp. is evacuating staff from a platform and Chevron Corp.  is preparing to shut down two platforms in the Gulf of Mexico, according to Reuters, as the region gets ready for Tropical Storm Nate. It is expected to become a hurricane by the weekend and move through the center of the Gulf, which would threaten oil production and refinery activity in the area.

Meanwhile, Saudi King Salman is currently on a visit to Moscow, a first for a Saudi monarch. Saudi Arabia, a heavyweight member of the Organization of the Petroleum Exporting Countries, and non-OPEC member Russia, were expected to discuss a possible extension of production cuts. Russian President Vladimir Putin noted that OPEC and allies could extend the cuts until the end of 2018,” said Adrienne Murphy, chief market analyst at AvaTrade. “By agreeing to cut 1.8 million barrels a day, the cartel have made strides in the price war, solidifying gains,” Murphy said. Still, OPEC members increased production in September, providing a reason for investors to take profits after three months of gains in Brent crude prices, according to Murphy. WTI and Brent prices fell Wednesday.

Despite plummeting inventories reported this week, oil was “being dragged down by rising exports from the U.S.,” said Murphy. “Higher prices mean U.S. producers have higher margins, allowing ample room to leave the taps on oil rigs flowing.” The U.S. Energy Information Administration reported Wednesday that U.S. oil production hit 9.56 million barrels a day in the week ended Sept. 29, its highest level since July 2015. Exports were nearly 2 million barrels a day. This has raised concern over how effective cuts by the OPEC-led coalition could be globally. But the cartel is “finally starting to admit to the market that an extension of cuts is needed to stimulate prices further,” said Murphy.

Also Wednesday, the EIA reported that crude stocks fell by 6 million barrels last week—four times more than some market expectations, indicating a continuing recovery in the wake of Hurricane Harvey in late August, which prompted the shutdown of Gulf Coast refineries and a backup of crude-oil supplies.

On Nymex, November gasoline blendstock  tacked on 3.1 cents, or 2%, to $1.611 a gallon and November heating oil added 1.2 cents, or 0.7%, to $1.786 a gallon.

Natural-gas prices, meanwhile, settled lower, giving up earlier gains to give up part of the climb they saw a day earlier. November natural gas fell 1.7 cents, or 0.6%, to $2.923 per million British thermal units—giving back part of the gains seen a day earlier.

The price decline came even as the EIA said domestic supplies of natural gas rose by 42 billion cubic feet for the week ended Sept. 29. That was below the average forecast for a climb of 47 billion cubic feet by analysts surveyed by S&P Global Platts.