Oil steady as OPEC+ works on compromise on output deal

Oil prices were steady on Thursday as producers including Saudi Arabia and Russia locked horns over the need to extend record production cuts set in place during the first wave of the COVID-19 pandemic.

Brent crude was up 4 cents, or less than 1%, at $48.29 a barrel by 1337 GMT, and U.S. oil was down 1 cent, or less than 0.1%, at $45.27 a barrel.