Oil prices steady as producers talk up efforts to rein in supply - Reuters

Oil prices steady as producers talk up efforts to rein in supply - Reuters:

Oil prices held steady on Friday and were on track for a third consecutive weekly gain, pulled higher by major oil producers’ efforts to hold back output amid concerns about the pace of economic recovery from the coronavirus pandemic.

Brent crude LCOc1 futures were up 5 cents, or 0.1%, at $44.95 per barrel by 0633 GMT, heading for a 0.4% rise for the week.

U.S. West Texas Intermediate (WTI) crude CLc1 futures were unchanged at $42.82 per barrel, but on track for about a 2% rise for the week.

Both benchmark contracts fell around 1% on Thursday on economic concerns after weekly U.S. jobless claims came in higher than expected.