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European stocks opened higher on Wednesday, ahead of the closely-watched release of the US Federal Reserve's latest minutes.

The pan-European STOXX 600 was up 0.36 percent.

Global markets are looking ahead to the release of the minutes from the Fed's meeting in July for clues on where the central bank might be heading in terms of the timing of interest rate rises. US stocks closed lower Tuesday ahead of the release of the minutes, due on Wednesday at 2 p.m. ET.

The Fed could still raise interest rates twice this year, with a move in September a possibility, Atlanta Fed President Dennis Lockhart said on Tuesday, Reuters reported.

"I would not rule out September. If the meeting were today, I think the economic data would justify a serious discussion" of whether to raise rates now, Lockhart told reporters after a speech in Knoxville on Tuesday.

In Asia meanwhile, markets traded mixed on Wednesday as the lower finish in the US stock market offset the positive impact of a rise in oil prices in the previous session.

Oil prices fell away from 5-week highs early on Wednesday, however, as analysts doubted a successful outcome from producer talks to rein in ballooning oversupply, Reuters reported.