Brent hovered near $55 a barrel on Thursday after data showed U.S. crude stockpiles set a record for the fifth week in a row, renewing fears that supply is still far outpacing demand. “For today, we should expect some recovery considering prices have been dropping,” said Daniel Ang of Phillip Futures in Singapore in a note, adding news of industry restructuring and lower oil rig counts had been temporarily pushing up prices, but that crude production still hadn’t actually declined.