On Friday oil prices were changed in early Asian trade. In the market looks for clues on how effectively OPEC production cuts are working to absorb a global supply overhang.
Crude was up 5 cents, or 0.1 %, at 51.79 dollar per barrel at 0353 GMT, after closing the previous session down 7 cents, and was on track for a weekly gain of about 0.8 %.
U.S. West Texas Intermediate crude (WTI) was up 10 cents, or 0.2 %, at 48.85 dollar a barrel and was also set for a small weekly rise.
Oil prices fell sharply last week on concerns that production cuts by OPEC and non-OPEC members including Russia are not cutting a supply overhang as quickly as expected in the face of increased U.S. output.
"Saudi Arabian Energy Minister Khalid Al-Falih continued to express concern about high global inventories," ANZ said in a note.
On Thursday the Saudi energy ministry said If crude inventories remain high, the Organization of Petroleum Exporting Countries (OPEC) could extend its oil output cut deal.
Official data showed crude inventories in the U.S, the world's top oil consumer, fell last week as imports plunged, dropping after nine consecutive increases.
Crude stockpiles fell by 237,000 barrels in the week to March 10, beating analyst expectations for an increase of 3.7 million barrels.
OPEC and non-OPEC members including Russia reached a landmark agreement last year to cut output by almost 1.8 million barrels per day (bpd) in the first half of 2017.
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