Oil prices stabilized on Wednesday after falling for two straight days on concerns that slowing economic growth and rising Middle East output would extend a global supply overhang.

                                  International Brent crude futures were trading at $44.95 per barrel at 0445 GMT, down 2 cents from their last settlement.

U.S. West Texas Intermediate (WTI) futures were up 7 cents at $43.72 a barrel.

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                   U.S. output has fallen from a peak of over 9.6 million barrels per day (bpd) in summer last year to just over 8.9 million bpd currently. That, traders said, has helped lift oil prices away from decade lows under $30 per barrel touched earlier this year.