Oil dipped towards $82 a barrel on Thursday after a two-day rally, reacting to the dollar strengthening against the euro and a lack of strong steps from OPEC to tighten supplies above its official output cap. U.S. crude oil futures CLc1 fell 44 cents to $82.49 a barrel. ICE Brent crude LCOc1 was 38 cents down at $81.58. Prices rose more than $3 in the previous two days due to larger-than-expected decreases in fuel inventories in the United States and strong U.S. gasoline demand, which rose to a record high for the month of February. "The market right now is very technical. For now, it is a technical retreat," Olivier Jakob of Petromatrix said. "OPEC yesterday did not actually make a strong statement about the low level of compliance, which may make the compliance level even lower. It will continue to supply lots of oil to the market."