Oil steadies as Russia touts easing OPEC+ output - Reuters

Oil steadies as Russia touts easing OPEC+ output - Reuters:

Oil prices were little changed on Monday as Russia said an OPEC-led producer group may consider easing output cuts next year, offsetting support from some investor optimism that an initial U.S.-China trade deal would be signed soon.

Brent crude LCOc1 settled up 25 cents, or 0.4%, at $66.39 after a day of thin trading ahead of the Christmas holiday. West Texas Intermediate CLc1 ended the session up 8 cents, or 0.1%, at $60.52 a barrel.

The Organization of the Petroleum Exporting Countries and other top producing nations led by Russia agreed this month to extend and deepen output cuts in the first quarter of 2020.

However, Russian Energy Minister Alexander Novak said on Monday that the group, known as OPEC+, may consider easing the output restrictions at its meeting in March.