Crude oil prices were flat Thursday morning, holding near 7-year lows after OPEC cuts its estimates for non-OPEC supplies.
The Organization of the Petroleum Exporting Countries cut 2016 estimates for non-OPEC output by 250,000 barrels a day to average 57.14 million barrels a day.
OPEC says it sees evidence of lower drilling activities among rivals like the US and Canada.
WTI crude oil was unchanged at $37.16 a barrel, having touched its lowest since 2009 on demand concerns and robust supplies from OPEC.
The material has been provided by InstaForex Company – www.instaforex.com