Oil steadies but threat of higher supply curbs gains


LONDON (Reuters) – Oil prices steadied on Thursday, but were likely to remain under pressure from evidence of rising U.S. output and uncertainty over the outlook for supply before a key meeting next week of the world’s largest exporters.

FILE PHOTO: A pumpjack brings oil to the surface in the Monterey Shale, California, April 29, 2013. REUTERS/Lucy Nicholson/File Photo

Brent crude futures LCOc1 were last up 6 cents at $76.80 a barrel by 0915 GMT, while U.S. West Texas Intermediate (WTI) crude futures CLc1 were up 12 cents at $66.76 a barrel.

“At OPEC’s meeting in a good week’s…



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