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Oil prices steady 48 hours to Doha talks

Crude futures were steady on Friday in thin business as traders were reluctant to take on new positions ahead of a planned meeting at the weekend of major oil exporters who want to rein in ballooning global over-production. Oil producers led by top exporters Saudi Arabia and Russia plan to meet in Qatar on Sunday to discuss freezing output around current levels in an effort to contain a global supply glut that sees some 2 million barrels of crude produced every day in excess of demand. Traders said they were reluctant to take on new positions ahead of the meeting, which takes place outside market hours.

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