oct 6 reuters  oil prices edged up in early asian trade on thursday after opec agreed to further tighten global crude supply with a deal to slash oil production by about 2 million barrel per day the agreement between the organization of petroleum exporting countries and allies including russia a group known as opec would squeeze supplies in an already tight market read more brent crude futures rose 46 cents or 05 to 9383 per barrel by 0027 gmt while us west texas intermediate wti crude futures were up 45 or 05 cents at 8821 per barrel saudi arabia the groups de facto leader said the cuts  equal to about 2 of worldwide supply  were in response to rising interest rates in the west and a weakening global economy the administration of us president joe biden has criticised the deal as being shortsighted the white house said it would consult with congress on additional paths to reduce the cartels control over energy prices in an apparent reference to legislation that could expose members of the group to antitrust lawsuits read more separately on wednesday russian deputy prime minister alexander novak said russia may cut oil output in an attempt to offset the effects of price caps imposed by the west over moscows actions in ukraine read more a draw in us oil stockpiles last week also supported prices crude inventories dropped by 14 million barrels in the week ended sept 30 to 4292 million barrels the energy information administration said reporting by laila kearney in new york editing by shri navaratnam