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Oil prices slip as demand worries outweigh OPEC supply cuts

Updated : July 02, 2019 08:23 AM IST

Brent crude futures for September delivery had dropped 33 cents, or 0.5 percent, to $64.73 a barrel by 0034 GMT. They climbed more than $2 a barrel on Monday before paring gains later in the day.
US crude futures for August had fallen 48 cents, or 0.8 percent, to $58.61 a barrel, after touching their highest in over five weeks on Monday.
The Organization of the Petroleum Exporting Countries (OPEC) agreed on Monday to extend oil supply cuts until March 2020 as the group's members overcame their differences in order to try to prop up the price of crude.
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