Oil prices rose on Friday, heading for a fifth week of gains, after major producers agreed to continue to restrain production to cope with coronavirus-hit demand but the compromise fell short of expectations.
Brent was up 19 cents, or 0.4%, at $48.89 a barrel by 0102 GMT after gaining around 1% on Thursday.
OPEC and Russia on Thursday agreed to ease deep oil output cuts from January by 500,000 barrels per day, failing to come to a compromise on a broader policy for the rest of next year.
"These meetings will bring some volatility to the market and, importantly, stand to make hedging harder for U.S. producers," Innes said.
The funding measure was earlier rejected by Democrats who say more money is needed to address the raging pandemic.
Brent, Stephen Innes, Innes
. West Texas, of, Petroleum, U.S . Congress
Long Beach, Los Angeles, Long Beach , California, Russia, OPEC