Investing.com – Oil Friday turned mixed after earlier losses after a reported Saudi offer to cut output.
U.S. crude was down 5 cents, or 0.11%, at $46.27 at 07:00 ET, while Brent crude gained 0.59% to $47.93
Reuters quoted sources as saying Saudi Arabia will cut output if Iran agrees to freeze its production
Major producers are due to hold informal talks in Algeria next week.
Oil fell earlier in the session after strong gains on a surprise draw in U.S. crude stocks and a weaker dollar
Baker Hughes U.S. rig count data are due out later in the session.
The dollar index was slightly higher. A stronger dollar dampens demand for oil.