Oil prices inched lower on Wednesday, despite greater than expected draws in US crude oil and fuel stocks, as the market weighed worsening economic prospects against expectations of U.S. crude inventory declines and plans by OPEC+ producers to reduce output.
Brent crude futures fell 49 cents, or 0.6%, to $84.45 a barrel by 10:58 a.m. EDT (1558 GMT). West Texas Intermediate U.S. crude fell 58 cents, or 0.7%, to $80.13 a barrel.
