LONDON: Oil prices edged lower on Tuesday as sluggish Chinese economic figures were countered by Beijing unexpectedly cutting key policy rates for the second time in three months.
Brent crude futures dipped 53 cents to $85.68 per barrel by 1008 GMT US West Texas Intermediate crude slipped 66 cents to $81.85 a barrel.
Supply cuts by Saudi Arabia and Russia, part of the OPEC+ group comprising the Organization of the Petroleum Exporting Countries and allies, had helped galvanise a rally in prices over the past seven weeks.
