Oil prices were steady Monday ahead of next week’s meeting of global crude producers where an extension of output cuts is set to be discussed. Brent crude , the global oil benchmark, fell 0.5% to $62.44 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange, West Texas Intermediate futures were trading up 0.1% at $56.72 a barrel. The Organization of the Petroleum Exporting Countries and other producers including Russia will meet on Nov. 30 and review whether to extend the production cuts due to expire in March 2018. The deal aims to reduce a glut of global stocks to their five-year average. “We’re expecting a potential extension of the deal, that’s the general market consensus, OPEC knows that it needs to continue doing what it’s doing because its targets haven’t been reached,” said Mustafa Ansari, energy economist at development bank Arab Petroleum Investments Corp. Oil […]