Oil steadies after 2% drop on potential OPEC+ output increase

Oil prices ticked up early on Thursday after falling nearly 2% in the previous session, with investors weighing a potential OPEC+ output increase against conflicting tariff signals from the White House and ongoing U.S.-Iran nuclear talks. Signs that the U.S. and China could be moving closer to trade talks gave prices some support. The Wall Street Journal reported that the White House would be willing to lower its tariffs on China to as low as 50% in order to open up negotiations.