Oil prices slip amid expectations of increased Venezuelan production, likely to remain volatile, say experts

Oil prices declined on Tuesday as markets assessed the possibility of increased Venezuelan crude production after the U.S. captured the Latin American country’s president, Nicolás Maduro, reinforcing expectations of abundant global supply this year amid a subdued demand environment.

Brent crude futures slipped 0.2% to $61.62 per barrel by 0103 GMT, while U.S. West Texas Intermediate fell 0.3% to $58.15 per barrel.