Oil erases gains, no movement towards deeper OPEC+ cuts
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LONDON (Reuters) - Oil prices erased earlier gains on Thursday, as the International Energy Agency (IEA) pointed to the "daunting" task of balancing the market next year amid surging U.S. supply and no movement towards deeper output cuts by OPEC and its allies. Brent crude futures fell 50 cents to $60.31 a barrel by 0934 GMT, heading for a third session of losses. U.S. West Texas Intermediate futures were down 31 cents at $55.44.Both benchmarks fell sharply the previous day following a report..