Oil prices stable on planned OPEC cut, but current glut still weighs

By Henning Gloystein SINGAPORE (Reuters) - Brent crude oil prices steadied above $50 a barrel on Monday, supported by a planned production cut by exporter club OPEC, but still under pressure from an overhang in supply that currently exceeds consumption. International benchmark Brent crude futures were trading at $50.25 per barrel at 0651 GMT, up 6 cents from their last close, although U.S. West Texas Intermediate (WTI) futures were down 8 cents at $48.16 a barrel. Oil prices had been supported "