Investing.com - A modest recovery by oil Friday from 10-month lows lost steam as the commodity remained on track for its fifth weekly loss in a row as supply concerns persist.
U.S. crude was up 7 cents, or 0.16%, at $42.81 at 07:10 ET. Brent was up 9 cents, or 0.20%, to $45.31.
An increase in U.S. output has undermined the impact on inventories of output cuts by major producers.
OPEC and non-OPEC producers have agreed to curb output by 1.8 million barrels a day.
The accord was extended in May for another nine months to March of next year.
Baker Hughes U.S. rig count data are due out later in the session.
Nigeria and Libya, which were exempt from the OPEC-led cuts, have also increased production.