London — Oil prices were steady on Friday, as investors waited to see whether major producers meeting in Vienna would back an extension to output cuts beyond March 2018. Brent crude futures were up 28 US cents at $56.71 a barrel at 1.51pm GMT, their highest since March. US West Texas Intermediate (WTI) crude futures were down 2c, at $50.53 per barrel. Some ministers from oil cartel Opec, Russia and other producers were meeting in Vienna to discuss their deal to cut supplies, which runs to March. Opec and its allies have been considering extending the deal beyond that date. Russian energy minister Alexander Novak said Opec and other oil producers would not take a decision until January, while other ministers suggested a decision could come this year. "I believe that January is the earliest date when we can actually, credibly speak about the state of the market," he said, emphasising that Opec and other major producers needed to work together on a strategy from April 2018. Oil prices ...
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