New York — Oil prices were largely steady on Thursday, coming under slight pressure from a stronger dollar as traders waited to see whether oil-producing countries set to meet in Vienna would extend production limits to reduce the global crude glut. The dollar rose to a two-month high against the yen after the US Federal Reserve announced it would unwind post-crisis stimulus measures and raised expectations of an interest rate increase in December. "We’re a little range-bound and choppy, not too much of a direction," said Tariq Zahir, a trader with Tyche Capital Advisors in New York. "The dollar is a little stronger." Ministers from oil cartel Opec, Russia and other producers meet in Vienna on Friday and are due to consider extending an agreement to reduce output by about 1.8-million barrels per day (bpd). Many analysts expect them to extend the deal, which currently lasts till March, but many also said prices at current levels could encourage some countries to boost production. By ...
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