A photo taken August 19, 2013 shows a worker checking oil tanks at an oil well near Tioga, North Dakota.
Karen Bleier | AFP | Getty Images
Oil prices were steady on Friday in quiet trade with the U.S. Thanksgiving holiday underway, while investors awaited a meeting of OPEC and its allies next week that may result in the extension of a production cut agreement to support the market.
Brent crude was down 5 cents at $63.82 a barrel by 0103 GMT, after dropping 0.3% on Thursday.
West Texas Intermediate was up by 1 cent at $58.12 a barrel. The contract gained 0.2% in the previous session with many U.S. traders already away for their holiday break.
Next week’s meeting of the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, a group known as OPEC+, is high on investors’ list of things to watch.
“At least some clarity is starting to emerge surrounding the OPEC meeting, where all parties concerned will attempt to enforce stricter compliance with the existing…