Oil producers would love to see higher prices, but OPEC so far has been unable to cut output. In September, OPEC agreed to have a committee look at potentially cutting production to 32.5 million to 33 million barrels a day, shaving off 700,000 barrels a day — some 2 percent of overall production.

Brent crude futures LCOc1 were trading at $46.29 per barrel at 0705 GMT, up 71 cents, or 1.56 percent, from their previous close. U.S. West Texas Intermediate (WTI) crude futures CLc1 were up 730 cents, or 1.66 percent, at $44.80 a barrel.

U.S. West Texas Intermediate crude CLc1 fell by 70 cents to $45.97 by 0611 ET and Brent crude LCOc1 was down 69 cents at $47.45. Both contracts were at their lowest since Sept. 28.

The UK-listed oil majors both said they were planning for prices per barrel in the low $50s in 2017 — only a little above current levels — in a sign of the industry adapting to “lower-for-longer” market conditions.

London Brent crude for December delivery LCOc1 was down 29 cents, or 0.6 percent, at $49.42 a barrel by 0750 GMT after settling down 76 cents on Friday. NYMEX crude for December delivery CLc1 was trading down 29 cents, or 0.6 percent, at $48.41 a barrel, after closing down $1.02 on Friday.

Негативное воздействие низких цен, проявившееся в серьезном сокращении инвестиций в нефтедобычу, будет продолжаться третий год подряд, что станет беспрецедентной ситуацией.

Brent crude LCOc1 was up 22 cents at $50.20 a barrel as of 0845 GMT (4:45 a.m. ET), after falling in the last three days. U.S. crude gained 10 cents to $49.28.

Brent crude futures LCOc1 were down 51 cents, or 1 percent, at $50.28 a barrel as of 0648 GMT. Prices hit $50.13 earlier in the session, the lowest since Oct. 3. U.S. crude CLc1 was at $49.37 per barrel, down 59 cents, or 1.2 percent, from its settlement on Tuesday. It dropped to $49.21 earlier, the lowest since Oct. 10.

Big companies responded with big cuts. BP, Eni and their peers cut exploration spending by 35% in 2015 compared with 2013, Wood Mackenzie’s data show. Many projects now focus on lower-risk, lower-reward prospects as companies hope for incremental gains near existing infrastructure that they can bring online quickly and cheaply.

The World Bank is raising its 2017 forecast for crude oil prices to $55 per barrel from $53 per barrel as members of the Organization of the Petroleum Exporting Countries (OPEC) prepare to limit production after a long period of unrestrained output.