West Texas Intermediate futures for October delivery climbed to $44.16 (+0.36%), while Brent crude is currently at $47.37 (+0.04%). Analysts said that these modest gains matched today's mixed Asian session, although generally demand remained weak and supply continued to be excessive.

Venezuela's president Nicolas Maduro repeated his request for a meeting with representatives of other members of the Organization of the Petroleum Exporting Countries saying he would present proposals to boost oil prices to the group. However OPEC members from the Middle East have so far pledged to keep output high trying to defend market share against rising competition.