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Oil Updates – crude steady, market eyes OPEC+ meet, weighs weak demand indicators

SINGAPORE: Oil was little changed on Thursday as investors remained cautious ahead of expected production cuts by the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, and as weaker-than-expected Chinese factory data underscored slowing growth in the world’s second largest economy, according to Reuters.

Brent crude futures fell 15 cents, or 0.2 percent, to $82.95 a barrel by 7:45 a.m. Saudi time, while US West Texas Intermediate crude futures rose 12 cents, or 0.2 percent, at $77.98 a barrel.

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