Oil steady as investors weigh supply and demand drivers
Oil prices were little changed in early Asia trade on Thursday as investors weighed demand concerns over a global economic slowdown against an expected fall in supply from Saudi output cuts.
Brent crude futures dipped 1 cent at $76.94 a barrel at 0110 GMT, while the US West Texas Intermediate crude futures rose 5 cents at $72.58 a barrel.
Both benchmarks settled up by about 1% on Wednesday, supported by Saudi Arabia’s plans for deep output cuts, though price gains remain capped by rising US fuel stocks and weak Chinese export data.
