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Brent crude oil steadies above $50 as investors weigh up OPEC deal

Global oil prices steadied on Monday as market players weighed last week’s news of a planned OPEC production cut with doubts over its implementation and effectiveness at wiping out a crude supply overhang.

December Brent crude futures remained above $50 a barrel in European trading but by 1400 GMT were flat on the day at $50.19 a barrel, after erasing earlier slight gains. U.S. crude futures were $48.23 a barrel, a cent lower.

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