High oil prices above $ 45 a barrel
Oil rose on Friday, recouping some of the sharp losses suffered earlier this week, but crude is still heading to record the biggest drop in the first half of any year since 20 years, despite the current production cuts.
The total global London Brent crude futures to $ 45.33 a barrel, up 11 cents, or 0.2% from the previous closing price.
Increased WTI US futures broker in nine cents or 0.2% to $ 42.83 a barrel.
Oil prices have fallen about 20% since the beginning of the year, despite efforts by the Organization of Petroleum Exporting Countries, OPEC, led to the production cut of 1.8 million barrels per day since last January.
This is the weakest performance of oil in the first half of any year since 1997, when increased production has led the Asian financial crisis to sharp declines in crude prices.
Prices are still down about 15% since OPEC also extended on 25 May work production cuts until the end of the first quarter of 2018 rather than the expiration of the agreement the cut end of the month.