Oil little changed despite OPEC+ plan to deepen cuts - Reuters

Oil little changed despite OPEC+ plan to deepen cuts - Reuters:

Oil futures were steady to slightly firmer on Thursday despite OPEC and its allies planning one of the deepest output cuts this decade to prevent oversupply.

The deal would apply for an unexpectedly short period of the first three months of 2020, without an extension that the markets had been eyeing, and would exclude condensates from the cuts for the non-OPEC allies, like Russia.

Brent crude LCOc1 futures settled at $63.39 a barrel, up 39 cents or 0.6%. West Texas Intermediate (WTI) crude CLc1 futures ended at $58.43 a barrel, unchanged from the previous settlement, after hitting the highest since late September earlier in the session.