Oil steadied above $62 on Friday, supported by signals that some OPEC producers may trim output to stem a price decline caused by ample U.S. inventories. U.S. crude shed 25 cents to $62.51 a barrel by 1000 GMT, deepening losses of 20 cents the previous session. London Brent crude lost 49 cents to $62.05. "There is obviously enough oil flowing in the market. The inventories are at a very comfortable level and capacity has come back a notch, so the judgment is that there is more than enough supply," said Tobin Gorey at the Commonwealth Bank of Australia. The world's eighth largest exporter Nigeria will cut supplies by 5 percent from Oct. 1 after consultations with other OPEC producers, while some other countries in the exporters' club have already trimmed sales, acting Secretary-General Mohammed Barkindo told Reuters on Thursday. [ID:nL28474882] A senior Nigerian oil industry source told Reuters that Nigeria was joining Saudi Arabia, the world's biggest oil exporter, and Kuwait in an unofficial deal to pare oil supply. A Gulf oil source said Kuwait's oil production was steady and there had been no order yet to cut supply. Saudi oil officials could not be reached for immediate comment. Edmund Daukoru, OPEC's president, told Reuters earlier this week that something needed to be done to steady prices, but Kuwaiti Oil Minister Sheikh Ali al-Jarrah al-Sabah countered that with U.S. crude above $61, most OPEC ministers were content with prices and not inclined now to cut output. Oil in New York has lost about 20 percent from a July peak of $78.40, the steepest drop since the 1991 Gulf War.