Oil prices eased below $48 a barrel on Monday after OPEC pledged to keep pumping at almost full tilt even though U.S. crude stockpiles are at their highest level in nearly six years. U.S. crude oil (CLc1) prices lost 73 cents to $47.94 a barrel, near a three-month low hit on Friday. Prices have fallen around 17 percent from the record high at $58.28 struck in early April. Brent crude oil (LCOc1) fell 69 cents to $47.94. Prices fell after OPEC president Sheikh Ahmad al-Fahd al-Sabah said on Sunday the cartel would continue to supply more than 30 million barrels per day (bpd), the highest level in 25 years. Higher OPEC supplies have helped push U.S. crude stocks to their highest level since July 1999, but Kuwait's Sheikh Ahmad signaled no pullback in OPEC's extra supply. "We will continue to focus on the market and will continue to supply the market," Sheikh Ahmad, who is also Kuwaiti oil minister, told reporters at a workshop in Kuwait.