Investing.com - Oil was on track for a weekly loss of about 4% as it seesawed Friday amid a global supply glut.
U.S. crude was up 17 cents, or 0.37%, at $45.81 at 07:00 ET. Brent added 20 cents, or 0.42%, to $48.06.
Oil has struggled to shake off the impact of a surprise jump in U.S. crude inventories earlier in the week.
The market has also been rocked by a rift in diplomatic and commercial ties between Qatar and some of its Middle East neighbors.
Output cuts by OPEC and non-OPEC producers have failed to make inroads into global inventories.
The producers have agreed to extend their accord for another nine months to March of next year.
Rising U.S. production is working against their efforts to reduce global inventories.
Baker Hughes rig count data are due out later in the session.