Oil flips to gains ahead of OPEC+ meeting

SINGAPORE: Oil prices flipped to gains on Thursday as investors expect top producers to stand pat on output policy, shrugging off earlier concerns about the resumption of Iran nuclear talks that could result in more oil exports from Tehran.

Brent futures and U.S. West Texas Intermediate crude pared losses of more than 1% as traders shifted focus to a meeting of the Organization of the Petroleum Exporting Countries and its allies, including Russia, a group known as OPEC+, later on Thursday.

The group is expected to reconfirm plans to keep monthly supply increases steady, despite calls for an acceleration.