Investing.com – Oil Tuesday was mixed Tuesday after sharp losses overnight as OPEC agreed a long-term strategy to stabilize the market.
U.S. crude was down 13 cents, or 0.28%, at $46.73 at 07:45 ET after shedding as much as 4% on Monday.
Brent crude gained 13 cents, or 0.27%, to $48.74 after giving up 3% at one point overnight.
OPEC on Monday approved a document calling for a more active role by the cartel in controlling the market.
However, hopes of an agreement to cut output at a formal meeting on November 30 in Vienna have faded.
American Petroleum Institute (PI) industry stockpile figures are due out Tuesday.
These will be followed Wednesday by official Energy Information Administration (EIA) figures.
The dollar index was lower. A weaker dollar supports demand for oil.