Oil steady amid muted Thanksgiving trade and ahead of OPEC+ meet
Oil prices were steady on Friday in quiet trade with the US Thanksgiving holiday underway, while investors awaited a meeting of OPEC and its allies next week that may result in the extension of a production cut agreement to support the market.
Brent crude was down 5 cents at $63.82 a barrel by 0103 GMT, after dropping 0.3 per cent on Thursday. West Texas Intermediate was up by 1 cent at $58.12 a barrel. The contract gained 0.2 per cent in the previous session with many US traders already away for their holiday break.
Next week’s meeting of the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, a group known as OPEC+, is high on investors’ list of things to watch.
