Oil markets lost steam on Tuesday as a deteriorating economic outlook and a surge in U.S. production outweighed expected supply cuts by the Organization of the Petroleum Exporting Countries (OPEC).
Brent crude oil futures, the international benchmark for oil prices, were at $66.43 a barrel at 0608 GMT, down 36 cents, or 0.5 percent, from their last close.
U.S. West Texas Intermediate (WTI) crude futures were at $56.97 per barrel, 23 cents, or 0.4 percent, below their last settlement.
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