Oil prices remained steady in light trading as the market approaches the US Thanksgiving holiday, with attention shifting to the upcoming OPEC+ meeting this weekend.
West Texas Intermediate crude traded below $69 a barrel, closing down 5 cents on Wednesday, while Brent crude hovered near $73.
Analysts expect that OPEC+ will likely delay any plans to increase production during the meeting, in order to address concerns about a potential oversupply in the market next year. This decision comes amid ongoing discussions about balancing supply and demand dynamics in the global oil market.