UPDATE 6-Oil slips as demand worries outweigh U.S. stocks draw

* U.S. crude stockpiles fall as imports jump - EIA
* Fed policymakers zero in on strategy tweaks, minutes show
* OPEC+ presses for compliance with oil cuts
* OPEC+ ministerial panel to meet to review compliance on
cuts

(Updates with settlement prices, adds Fed minutes)
By Jessica Resnick-Ault
NEW YORK, Aug 19 (Reuters) - Oil prices steady on Wednesday
as concerns lingered over soft U.S. fuel demand while global
producers feared a second prolonged wave of the coronavirus
pandemic was a major risk for the market recovery.
U.S. crude oil stockpiles USOILC=ECI fell 1.6 million
barrels last week, while fuel demand was down 14% from the
year-ago period over the last four weeks, Energy Information
Administration data showed. EIA/S
"The drop in gasoline demand week-over-week was a concern.
That's still showing weakness," said Phil Flynn, a senior
analyst at Price Futures Group in Chicago. "The only thing that
is holding us back is demand," he said.
Brent crude futures LCOc1 settled at $45.37 a barrel, down
9 cents.
U.S. West Texas Intermediate (WTI) crude CLc1 ended 4
cents higher at $42.93 a barrel, getting a late boost after
Federal Reserve board minutes were released. The U.S. central
bank is considering policy tweaks that could sustain aggressive
stimulus measures. Global oil demand should recover to pre-pandemic levels as
soon as the fourth quarter, the Saudi Energy minister said,
while urging compliance with a global deal to cut output.
The Organization of the Petroleum Exporting Countries and
its allies such as Russia, a grouping dubbed OPEC+, began a
meeting on Wednesday to review the compliance levels with the
deal, aimed at supporting prices. .
"Based on the average projections of various institutions,
... it is estimated that the world will reach about 97% of
pre-pandemic oil demand during the fourth quarter - which is a
big recovery from the huge falls in April and May," said Prince
Abdulaziz bin Salman. A draft OPEC+ statement, seen by Reuters, said a second
prolonged wave of the pandemic was a major risk for the oil
market recovery.
OPEC+ sources have said the group was unlikely to change on
Wednesday its output policy, which currently calls for reducing
output by 7.7 million barrels per day (bpd) versus a record high
9.7 million bpd up until this month.