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.

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

Between tariffs roiling the global economy and OPEC putting more barrels on the market, prices have dropped significantly since January. That's good for consumers, and bad for oil companies.