Singapore — Oil markets edged up in nervous trading on Wednesday ahead of the Opec cartel’s meeting later in the day to thrash out an output cut and curb oversupply that has caused prices to more than halve since 2014. International Brent crude was trading at $46.80 a barrel at 3.11am GMT, up 42c or 0.91% from its last close. US West Texas Intermediate (WTI) crude was up 23c or 0.51% at $45.46 a barrel. Traders said markets were jittery and prices could swing sharply in either direction, depending on developments at the Organisation of the Petroleum Exporting Countries (Opec) meeting in Vienna. Oil dropped nearly 4% the previous session over disputes between Saudi Arabia, Iran and Iraq regarding details of the planned cut. Despite the disagreements, most analysts still expect some form of deal to emerge. "We expect Opec will reach an agreement…. We believe Opec’s resolve in reaching an agreement remains strong," ANZ bank said on Wednesday. Analysts at Goldman Sachs, Barclays and ANZ...
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