Oil steady as weak dollar offsets U.S., Russia output forecasts
NEW YORK Oil prices were little changed on Tuesday as a decline in the U.S. dollar and comments by Saudi Arabia that it would adhere to OPEC's commitment to cut output.
NEW YORK Saudi Arabia is informing its customers of cuts to their January crude oil supplies to comply with the latest OPEC agreement, according to a PIRA note late on Thursday.
The note adds that cuts will be to varying degrees, but is likely to be larger to North America due to lower margins.
Last week, members of the Organization of the Petroleum Exporting Countries agreed to scale back output, its first cut since 2008.
(Reporting by Catherine Ngai; Editing by Phil Berlowitz)
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