Oil Prices Steady As OPEC And Allies Seek Consensus On Output

• Oil prices were broadly steady on Tuesday as investors awaited direction from OPEC and its allies after the producers postponed a formal meeting to decide whether to lift output from January.
• Brent crude was down 1 cent at $47.87 a barrel and West Texas Intermediate was down 9 cents at $45.25.
• Both contracts have surged around 27% in November, pushed up by hopes that COVID-19 vaccines would boost the global economy and fuel demand, and aided by expectations that oil producers would keep a tight rein on output amid a new wave of the virus.

(Source: Reuters)