Oil Prices Steady Near 45.00 Resistance

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Crude oil prices are trading flat near the resistance level of 45.00. This comes as price action is consolidating here for the past few sessions.

The commodity held its ground despite OPEC+ agreeing to increase oil output, rather modestly starting January.

For the moment, the 45.00 remains a key level that needs to be breached. Failure to do so could signal a move lower.

The correction to the downside could see oil prices testing the 44.00 level of support.

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