Investing.com - Oil edged higher Wednesday with hopes for an OPEC deal to cut output in the balance.
U.S. crude was up 9 cents, or 0.19% at $48.12 at 06:45 ET, while Brent crude added 0.24% to $49.24.
OPEC planned in September to cut output to 32.5-33 million barrels a day, down from 33.64 million in October.
Doubts have emerged whether Iran and Iraq will come on board on the deal. Iraq insisted Tuesday it should be exempt from cuts.
OPEC is aiming to formalize the deal at a formal meeting in Vienna on November 30.
Official Energy Information Administration (EIA) stockpile figures are due out later Wednesday.
The EIA is expected to report an increase of 671,000 barrels in U.S. crude stocks in the latest week.
