Oil prices rose for a fourth consecutive session today, although worries over a persistent global supply glut still lingered. 

Brent crude futures, the international benchmark for oil prices, gained 35 cents, or 0.7%, to stand at $46.18 a barrel. 

US West Texas Intermediate (WTI) crude futures were up 30 cents, or 0.7%, at $43.68 a barrel. 

The gains mean the market is up slightly so far this week, after spending much of the last month in negative territory. 

"Oil may be close to the bottom but badly damaged sentiment and a rising (US) rig count will dent the recovery," US bank Citi said today. 

The Organisation of the Petroleum Exporting Countries (OPEC) and its partners have been trying to reduce a global crude glut with production cuts. 

OPEC nations and 11 other exporters agreed in May to extend cuts of 1.8 million barrels per day (bpd) until March 2018. 

Despite the cuts, which started in January, markets remain well supplied due to rising output elsewhere. 

OPEC members Nigeria and Libya are exempt from the cuts and have raised production. OPEC member Iran was also allowed a small increase to recover market share lost under Western sanctions over its nuclear programme. 

US shale oil output has risen about 10% since last year to 9.4 million bpd, with the number of US oil rigs in operation at the highest in more than three years. 

Analysts said demand was not growing quickly enough to absorb output, especially since imports in Asia are stuttering. 

A fuel glut in China, a hangover from demonetisation in India, and an ageing, declining population in Japan are holding back crude oil demand growth in three of the world's top four oil buyers.