Oil edged up today, recovering from a 5 per cent plunge in the previous session that saw prices touch fresh five and a half year lows in an oversupplied market. Growth in oil supplies showed no sign of abating, with output in Russia hitting a record high in 2014 and exports from OPEC's second largest producer Iraq the highest since 1980. Brent crude gained 13 cents and was at 53.24 dollar a barrel , after dropping to a low of 52.66 dollar yesterday, its lowest since May 2009. Meanwhile, Asian share markets fell sharply today as investors worried about falling oil prices and concerns in Europe widened over Greece's economic outlook.