International benchmark Brent crude futures dropped 28 cents, or 0.47%, to $59.42 a barrel by 0123 GMT on Wednesday. West Texas Intermediate (WTI) crude futures fell 40 cents, or 0.73%, to $54.08 per barrel.
SINGAPORE: Oil slipped on Wednesday after U.S. industry data showed a bigger-than-expected build in crude stockpiles, but possible deeper production cuts coming from OPEC and its allies prevented a further slide in prices.
International benchmark Brent crude futures dropped 28 cents, or 0.47%, to $59.42 a barrel by 0123 GMT on Wednesday.
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