Elsewhere, Brent oil for September delivery on the ICE Futures Exchange in London tacked on 24 cents, or about 0.5%, to $49.15 a barrel, after touching a more than one-week peak of $49.23.
shale production is derailing efforts by other major producers to rebalance the market.
So far, the production-cut agreement has had little impact on global inventory levels due to rising supply from producers not participating in the accord, such as Libya and Nigeria.
In the week ahead, market participants will eye fresh weekly information on U.S.
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