Oil prices eased on Monday after OPEC pledged to keep pumping at almost full tilt even as crude stockpiles in the United States remained abundant. U.S. crude oil prices shed 22 cents to $48.45 a barrel, after making a shaky recovery on Friday from a three-month low. Prices had fallen almost 17 percent from the record high at $58.28 struck in early April. Brent crude oil edged down 30 cents to $48.36 a barrel, erasing Friday's gains. OPEC president Sheikh Ahmad al-Fahd al-Sabah said on Sunday the cartel was supplying more than 30 million barrels per day (bpd) -- a 25-year high -- against an official ceiling of 27.5 million bpd. "We will continue to focus on the market and will continue to supply the market," said Sheikh Ahmad, who is also Kuwaiti oil minister. But he added OPEC was unlikely to raise its formal output limit to match the actual supply. He said that $40 a barrel was an acceptable price for the cartel's basket of crude oils, nearly $6 below its current level. Middle East Gulf oil producers have been raising output since March to build up stocks ahead of the fourth quarter, when demand for OPEC oil is expected to rise to 30.5 million bpd. A number of OPEC members have discounted any possible cuts to supply despite the current softer market. The Organization of the Petroleum Exporting Countries is scheduled to meet on June 15 to plan its production for the second half.