US crude was pulled down at $ 48.69 per barrel
OPEC with Russia to reduce global glut, cut production by 1.8 mn between January 2017-March 2018
Brent crude was up 19 cents, US crude was up 17 cents
Oil prices have fallen about 20% this year, despite efforts by OPEC to cut production
There are already doubts that effort to curb production by 1.8 million bpd is denting crude exports
The cuts haven't resulted in desired goals amid rising US shale production, weak global demand
According to reports, Opec's largest producer Saudi Arabia is still keeping markets well supplied