Oil prices flat in choppy trade, output cut signal

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Leading Gulf oil exporters Saudi Arabia and Kuwait gave a clear signal on Thursday that Opec plans to extend into the second half of the year a deal with non-member producers to curb supplies of crude.

Oil prices were little changed on Thursday in a seesaw trading session, as investors weighed rising U.S. production against comments from leading Gulf oil producers that an extension to Opec-led supply cuts was likely.

Brent futures were up 15 cents to $53.08 a barrel were at 11:40 a.m. EDT (1540 GMT). U.S. crude futures were up 6 cents at $50.50 a barrel.
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