(Reuters) -Oil prices were little changed early on Tuesday as markets weighed OPEC+’s decision to pause output hikes in the first quarter even as concerns over a looming supply glut persisted.

Brent crude futures fell 9 cents, or 0.1%, to $64.80 a barrel by 0110 GMT. U.S. West Texas Intermediate crude was down 10 cents, or 0.2%, at $60.95 a barrel.

On Sunday, the Organization of the Petroleum Exporting Countries and their allies, known as OPEC+, agreed to a small oil output increase for December and a pause in increases in the first quarter of next year.

OPEC+ has raised output targets by around 2.9 million barrels per day – or around 2.7% of global supply – since April, but slowed the pace from October amid predictions of oversupply.

“It certainly suggests that OPEC+ recognizes the ov

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