Oil dips on high interest rate worries, Opec+ panel awaits

FILE PHOTO: A 3D-printed oil pump jack is seen in front of displayed OPEC logo in this illustration picture. REUTERS/Dado Ruvic

OIL edged lower on Wednesday ahead of a panel meeting of OPEC+ ministers, as the market weighed expectations of supply tightness against fears that high interest rates could reduce fuel demand.

Brent crude oil futures dipped 6 cents to $90.86 a barrel by 0345 GMT, while U.S. West Texas Intermediate crude (WTI), fell 5 cents to $89.18 per barrel.