Oil Climbs, But Record U.S. Crude Output, Higher OPEC Supplies Drag

Oil prices edged higher on Tuesday after falling nearly 2 percent in the previous session, but growing U.S. production and expectations of higher OPEC supplies continue to weigh on sentiment.

Brent crude futures added 15 cents, or 0.2 percent, to $75.44 a barrel at 0020 GMT, after settling down 2 percent at $75.29 a barrel on Monday.

U.S. West Texas Intermediate (WTI) crude was up 28 cents, or 0.4 percent, at $65.03 a barrel. It finished the previous session 1.6 percent lower at $64.75 a barrel.

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Suhani Verma

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