Oil prices steady ahead of OPEC+ output policy meeting
MELBOURNE: Oil NSE 0.80 % prices were flat on Tuesday ahead of a meeting where major producers are expected to stick to plans to add supply in February, as soaring COVID-19 cases have yet to spark lockdowns in the biggest fuel-consuming countries.
Brent crude futures gained 1 cent to $78.99 a barrel at 0239 GMT, while U.S. West Texas Intermediate (WTI) crude futures slipped 2 cents to $76.06 a barrel.
The two benchmark contracts both climbed more than 1% on Monday.
The Organization of the Petroleum Exporting Countries (OPEC)), Russia and allies – together called OPEC+ – are due to meet on Tuesday. The Joint Ministerial Monitoring Committee is due to meet at 1200 GMT, followed by a ministerial meeting at 1300 GMT, both by videoconference.
