Investing.com - Oil prices turned lower on Thursday after the International Energy Agency warned that the market risks running another surplus in 2017 without an output cut from OPEC.
U.S. crude slid 22 cents, or 0.49%, at $45.05 at 06.55 ET.
Brent crude was last up 16 cents or 0.35% at $46.52, after climbing as high as $46.92 earlier.
In its montly report, the IEA said OPEC crude output hit record high of 33.83 million barrels a day in October and warned that 2017 could be another year of relentless global supply growth.
Prices were also held in check after data showing a 2.4-million-barrel increase in U.S. crude inventories last week, adding to concerns about oversupply.