Oil was mixed in Asian trade on Monday but remained subdued with no signs the world’s key crude producers will cut output in the face of a supply glut, analysts said.

US benchmark West Texas Intermediate for delivery in December was up one cent to USD 81.02 a barrel in late-morning Asian trade, reversing earlier losses, while Brent crude for December eased 25 cents to USD 85.88.

Both contracts were down Friday, resuming their slide following a rebound the day before as traders shrugged off reports of a supply cutback in September by oil kingpin Saudi Arabia.

World oil prices have fallen by a quarter since June as excess supply and weaker demand led to a glut on global markets, prompting some other exporters to call for cuts in output.

Analysts said however there are no indications of a production cut, and investors were looking for further developments during a meeting of the Organization of the Petroleum Exporting Countries (OPEC) next month.

“This year, global commercial oil stocks have surpassed the 5.0 billion barrel mark, growing at a rate of 1.16 million barrels per day on average over the first three quarters of this year,” British bank Barclays said in a research note.