Investing.com - Oil steadied near multi-month lows Wednesday as supply glut concerns continued to overhang the market.
U.S. crude was up 13 cents, or 0.30%, at $43.64 at 08:00 ET. Brent added 13 cents, or 0.28%, to $46.15.
Oil remained under pressure despite compliance levels with agreed supply cuts remaining high.
OPEC and non-OPEC producers have agreed to curb output by 1.8 million barrels a day.
The accord was extended in May for a further nine months to March of next year.
Inventories remain high despite the cuts.
The American Petroleum Institute Tuesday reported a bigger-than-expected fall U.S. crude stocks of 2.72 million barrels in the latest week.
The Energy Information Administration is due to release official inventories later in the session.
The EIA is expected to report a fall in U.S. crude stocks of 2.1 million barrels.