An increase in Russian oil production and price expectations balanced against shortages in Canada sparked by wildfires, pushing oil higher early Wednesday.

Oil exports from Russia in April increased to their highest level in more than a year, with deliveries growing by more than 6 percent for the first four months of the year. According to government-funded Russian news agency RT, exports of oil from Russia are at their highest level since January 2015.

The figures are in contrast to calls from Russia to hold production at January levels. Russia and some members of the Organization of Petroleum Exporting Countries called for a production freeze to help stabilize a depressed energy market, though talks collapsed last month on reservations from Iran.

In Canada, the top oil exporter to the U.S. economy, production is lower because of the threat from wildfires in Alberta, a province central to the country's oil economy. Canadian energy company Suncor said it was among those trimming production at Alberta facilities so that employees and their families can get to safety, though no structures are currently at risk.

After two straight days of declines, crude oil prices rebounded sharply by the start of the trading day in New York. Brent crude oil prices moved up by 1.6 percent to $45.72 per barrel. West Texas Intermediate, the U.S. benchmark price for crude oil, gained 1.7 percent at the open to $44.39 per barrel.

Market analysts have attributed the rise in crude oil prices since April to a move away from supply-side trends that helped drag the market far below $100 per barrel from 2014. Fatih Birol, the executive director of the International Energy Agency, said in an interview published Wednesday by S&P Global Platts that output from the United States may still decline even if oil moves above $60 per barrel.

"It will take a lot of time to bring the logistics, the rigs, [and] the workers together so we think we may need six months to one year [for] U.S. oil production to come back and see a reverse in the trend of a decline," he said.