Crude oil futures were lower during mid-morning trade in Asia Friday amid expectations that OPEC+ members will not deepen production cuts at their upcoming meeting next week. At 10:53 am Singapore time (0253 GMT), ICE January Brent crude futures were down 17 cents/b (0.27%) from Thursday’s settle at $63.70/b. The front-month NYMEX January light sweet crude contract was 5 cents/b (0.19%) lower than Wednesday’s settlement at $58.04/b. There was no settlement for NYMEX on Thursday due to the Thanksgiving holiday in the US. “Crude oil prices dipped as hopes of deeper cuts from OPEC faded,” ANZ analysts said in a report early Friday. “We see the market pushing into a small surplus in H1 2020 and tightening in H2 on the back of stronger demand. As a result, we don’t expect the OPEC+ group to deepen cuts,” the analysts said. News reports late Thursday indicated that a […]