Oil prices stabilise on Opec supply deficit forecast

TOKYO: Oil prices steadied on Thursday with the market mood switching to relief as OPEC forecast a supply deficit next year, from doom and gloom over data showing a surprise increase in U.S. crude inventories.

Brent futures rose 19 cents, or 0.3 per cent to 63.61 a barrel by 0100 GMT, after skidding 1 per cent on Wednesday on the U.S. stocks build-up.