Oil steady after smaller-than-expected OPEC+ output hike

By Enes Tunagur LONDON (Reuters) -Oil prices were steady on Tuesday as investors assessed a smaller-than-expected November output hike by OPEC+ against the backdrop of oversupply expectations. Brent crude futures fell 9 cents, or 0.14%, to $65.38 a barrel by 1007 GMT. U.S. West Texas Intermediate crude lost 10 cents, or 0.16%, to $61.59. Both contracts settled up more than 1% in the previous session after the Organization of the Petroleum Exporting Countries plus Russia and some smaller producers, known as OPEC+, decided to increase its collective oil production by 137,000 barrels per day, starting in November. The move was in contrast to market expectations for a more aggressive reintroduction of supply, a sign that the group remains cautious about increasing its production share in the g