Twilight News / Oil prices steadied on Thursday amid expectations of an imminent scarcity in the market in 2017 because of planned under the leadership of OPEC production cuts and Russia, after sharp declines earlier after rising US interest rates on Wednesday, which led to the exodus of investors from primary commodities.
At 0649 GMT, futures for Brent Global rose three cents from the previous close to $ 53.93 a barrel.
Futures fell US WTI eight cents from the previous settlement to $ 50.96 a barrel.
ANZ Bank said on Thursday that oil markets will move to a big deficit in the first quarter of 2017 if ago the Organization of Petroleum Exporting Countries (OPEC) and other producers led by Russia in production cuts and declared it, amounting to about 1.8 million barrels.
The bank said, "This is likely to push oil prices to much higher than $ 60 a barrel early next year."
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