UPDATE 4-Oil prices little changed amid concerns about rising supplies

* IEA sees major challenge to OPEC+ oil demand in 2020
* Prospects rise for extension of OPEC+ cuts
* White House adviser upbeat on U.S.-China trade talks

(Updates prices, adds comment)
By Julia Payne
LONDON, Nov 15 (Reuters) - Oil prices fluctuated around flat
on Friday as investors weighed concerns about rising supplies
next year and signs of progress towards ending the U.S.-Chinese
trade row.
White House economic adviser Larry Kudlow said on Thursday a
deal was "getting close", citing what he described as very
constructive discussions with Beijing.
Benchmark Brent crude LCOc1 was down 2 cents at $62.26 a
barrel by 1352 GMT, while West Texas Intermediate crude CLc1
rose 13 cents to $56.90 a barrel.
"We're in a very technical market that is around the 200-day
moving average for the last sessions. There's a battle between
the big players at the moment on direction," Olivier Jakob of
Petromatrix consultancy said.
The International Energy Agency weighed on prices, by saying
the Organization of the Petroleum Exporting Countries and its
allies, a grouping known as OPEC+, faced "a major challenge in
2020 as demand for their crude is expected to fall sharply."
OPEC Secretary General Mohammad Barkindo had painted a more
upbeat picture this week, saying growth in rival U.S. production
would slow in 2020, although a report by the group had also said
demand for OPEC oil was expected to dip.
OPEC and its allies have cut supply to prop up prices and
are expected to discuss output policy at a meeting on Dec. 5-6
in Vienna. Their existing production deal runs until March.
"Will they maintain cuts or go deeper? If OPEC doesn't
budge, we'll see a significant stock build in the first half,"
said Harry Tchilinguirian, global head of markets strategy at
BNP Paribas.
He said it was still not clear how long it would take for
any deal to end the U.S.-China trade row, which has weighed on
the global economy and undermined demand for fuel.
"Essentially we've had a range bound market for the last
nine sessions due to the lack of clarity on these two key
issues," Tchilinguirian said.
OPEC said demand for its crude would average 29.58 million
barrels per day (bpd) next year, 1.12 million bpd less than in
2019, pointing to a 2020 surplus of about 70,000 bpd.
U.S. production has continued climbing, reaching a weekly
record of 12.8 million bpd last week, while U.S. oil inventories
rose faster than expected last week. EIA/S
However, rising U.S. output and competition from production
in Brazil, Norway and Guyana next year has been squeezing
profits for U.S. shale producers, which plan another spending
freeze in 2020 and a slowdown in production growth. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
GRAPHIC: Surplus or deficit? https://tmsnrt.rs/2NQmBiR
CHART: U.S. oil may retest resistance at $57.84 Brent oil may retest resistance at $63.2 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>