Oil Prices Steady Despite OPEC+ Plans to Pause Output Increases

Oil prices were little changed despite news that OPEC+ plans to end its supply increases, with the market weighed down by fears of an oil supply glut and weak factory data in Asia.

Brent crude futures were down 1 cent, or 0.02%, at $64.76 a barrel by 0959 GMT. U.S. West Texas Intermediate crude was down 3 cents, or 0.05%, at $60.95.

The Organization of the Petroleum Exporting Countries and its allies, known collectively as OPEC+, agreed on Sunday to raise output by a small 137,000 barrels per day (bpd) in December and to pause increases in the first quarter of next year...

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