Oil extends losses into second session; Russia, OPEC output in focus
SYDNEY: Oil prices edged down on Tuesday after a Russian minister said the nation and OPEC may boost crude output to fight for market share, checking a recent sharp rally driven by tighter global production.
Brent crude oil futures were at $71.08 a barrel at 0111 GMT, down 10 cents, or 0.1 per cent, from their last close. Brent ended down 0.5 per cent on Monday.
US West Texas Intermediate (WTI) crude futures were at $63.39 per barrel, down 2 cents, or 0.1 per cent, from their previous settlement. WTI fell 0.8 per cent on Monday.
