Oil prices were broadly stable as the market is looking towards a meeting of OPEC and its allies as well as a Federal Reserve rate decision and U.S. government data on crude and fuel stockpiles on Wednesday.
Tamer U.S. rate hike expectations helped lower the dollar index, which supported oil prices as a weaker greenback makes the commodity cheaper for buyers holding other currencies, according to Stephen Brennock, analyst at PVM.All eyes will be on a meeting of key ministers of the Organization of the Petroleum Exporting Countries and allies including Russia, known as OPEC+, where producers are expected to stick with output targets agreed in November.
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