TOKYO (Reuters) - Oil prices steadied on Thursday after falling more than $1 in the previous session as uncertainty over the outcome of trade talks between the U.S. and China, the world's two largest oil consumers, weighed on investor sentiment.

Crude oil holds gains as traders eye 50-day MA; U.S.-China trade truce boosts oil demand outlook while rising OPEC output tempers bullish momentum.

U.S. oil prices fell to $57 a barrel after the OPEC Plus cartel said this weekend that it would pump more oil.

Asia-Pacific trade envoys will gather this week in South Korea for discussions on multilateral cooperation, with talks taking place at a time when countries are scrambling to respond to U.S. President Donald Trump's sweeping tariffs.

Despite market uncertainty and falling oil prices, Exxon, Shell, and TotalEnergies are maintaining dividend and buyback policies.

A price drop benefits any country seeking to cut its fuel bill. But in oil producing nations, lower prices can feed economic troubles, and sometimes political unrest, as governments slash spending.

Oil demand hopes rise on trade talks, but crude prices face resistance from rising OPEC production and Fed-driven dollar strength.

Aluminum prices have stabilized in the US after a post-tariff drop, with the Midwest Premium remaining significantly higher than at the start of the year.

USD/CAD is aiming for its fifth straight daily gain, hovering near 1.3970 during Tuesday’s European session. However, the pair faced some resistance as the US Dollar (USD) softened ahead of the highly anticipated US Consumer Price Index (CPI) report for April, due later in the North American session.

Saudi oil giant Aramco anticipates steady oil demand, with potential growth if the U.S.-China trade dispute is resolved. Despite a profit drop, Aramco remains optimistic due to strategic diversification efforts and increased production plans.