Oil prices were flat in Asian trade on Wednesday as traders sought more cues on monetary policy from the minutes of the Federal Reserve’s June meeting, while fears of a renewed U.S.-China trade war also dented sentiment. The start of a two-day meeting of the Organization of Petroleum Exporting Countries with major oil industry executives also saw markets holding their breath, especially after Saudi Arabia and Russia vowed deeper supply cuts in the coming months. The prospect of tighter supplies boosted oil prices this week, as a 1 million barrels per day production cut by Saudi Arabia came into effect from July. The ... (full story)