1st LD Writethru: Oil prices steady amid supply glut worries

Oil prices ended little changed Friday as worries that global supply would surpass demand persisted.

The abundant supplies continued to drag the market. Iran and six world major countries have adopted an agreement on the Iranian nuclear issue Tuesday. Traders worried that more Iran crude would come to the already well-supplied oil market.

In June, the Organization of the Petroleum Exporting Countries' production increased by 283,000 barrels per day to average 31.38 million barrels per day (mb/d), according to OPEC monthly oil market report released on Monday.

U.S. crude production was little changed to 9.562 million barrels a day last week, according to the Energy Information Administration (EIA)'s Wednesday weekly report.

The U.S. dollar climbed against most major currencies on Friday as the positive economic data from the country pointed to a possible interest-rate hike later this year.

A stronger greenback made the dollar-priced crude more expensive and less attractive for buyers holding other currencies.

The West Texas Intermediate for August delivery moved down 2 cents to settle at 50.89 U.S. dollars a barrel on the New York Mercantile Exchange, while Brent crude for September delivery increased 18 cents to close at 57.1 dollars a barrel on the London ICE Future Exchange. Endite