Oil hovers around highs ahead of U.S. rig count
Multinational Eagle Ford Drilling Rig 2
U.S. crude was up 7 cents, or 0.14%, at $49.11 at 06:30 ET. Brent added 23 cents, or 0.45%, to $51.72.
Oil was buoyed this week by a big draw in official U.S. crude inventories in the latest week.
Crude was also underpinned by Saudi Arabia’s pledge to curb crude exports beginning next month.
<a href=’https://theenergyyear.com/companies-institutions/opec/’>OPEC and non-OPEC producers may also extend an agreement to cut output by 1.8 million barrels a day to beyond March.
Investors are looking to Baker Hughes rig count data due out later in the session.
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