Investing.com - Oil edged higher Friday as the dollar slipped, with U.S. rig count data ahead.
Brent crude was up 6 cents, or 0.11%, at $55.14 at 08:00 ET. U.S. crude added 2 cents, or 0.04%, to $52.63.
Oil prices shed as much as 2% Thursday as U.S. crude stockpiles hit record levels and the dollar jumped.
Sentiment was also dented by reports Russian output in February was flat compared to the previous month.
Russia and other non-OPEC producers have signed up to cut output by some 558,000 barrels a day in the first half of the year.
The cuts are in conjunction with a reduction by OPEC of 1.2 million barrels a day.
OPEC compliance levels with the accord have been estimated at over 90%.
Baker Hughes rig count data are due out later in the session.
Higher North American activity could cancel out the impact of the output cut accord.
A stronger dollar undermines demand for oil.