LONDON (Reuters) – Oil prices steadied on Thursday as supply cuts by OPEC and other major exporters tightened the market despite higher production in the United States. An oil rig drilling a well at sunrise, owned by Parsley Energy Inc. near Midland, Texas, U.S., May 3, 2017. Picture taken May 3, 2017. REUTERS/Ernest Scheyder Benchmark Brent crude LCOc1 was unchanged at $60.49 a barrel by 1005 GMT. On Wednesday, Brent reached $61.70, its highest intraday level since July 2015. The contract is up more than a third since its 2017-lows in June. U.S. light crude CLc1 was 10 cents higher at $54.40, almost 30 percent above its 2017-low in June. Confidence has been fueled by an effort this year lead by the Organization of the Petroleum Exporting Countries and Russia to hold back about 1.8 million barrels per day (bpd) in oil production to tighten markets. Saudi Arabian Energy […]