Oil prices slipped from 2019 highs on Wednesday as soaring US production and expectations of an economic slowdown undermined efforts led by producer club OPEC to cut supply to tighten global markets.
US West Texas Intermediate (WTI) crude oil futures were at $55.84 per barrel at 0126 GMT, down 25 cents, or 0.5 per cent, from their last settlement. WTI hit a 2019 high of $56.33 earlier this week.
International Brent crude futures were down 27 cents, or 0.4 per cent, at $66.18 per barrel after hitting a 2019 high of $66.83 per barrel on Monday.
Oil prices have been supported by supply cuts led by the Organization of the Petroleum Exporting Countries (OPEC).
