Oil futures fell today, as concerns about weaker demand amid a slowing global economy overshadowed the prospect of further supply cuts by the Organization of the Petroleum Exporting Countries (OPEC).
Reuters reported that Brent crude futures fell 19 cents, or 0.2 percent, to $82.13 a barrel.
U.S. West Texas Intermediate crude fell 15 cents, or 0.2 percent, to $77.68 a barrel.
The oil market has fallen nearly 20 percent since late September, with U.S. crude production remaining at record levels, while the market was concerned about demand growth, especially from China, the top oil importer.
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