Oil little changed as hopes for output cuts offset by crude glut

NEW YORK (Reuters) - Oil was little changed on Tuesday as hopes that the world's biggest producers would agree to cut output were tempered by a worsening crude oil glut and the threat of a deeper-than-expected global recession.Brent crude was up 1 cent at $33.06 a barrel by 12:33 p.m. EDT (1633 GMT), while West Texas Intermediate (WTI) crude was up 19 cents to $26.27 a barrel.The top global suppliers of crude, including Saudi Arabia and Russia, are expected to agree to reduce output at a..