Investing.com - Oil prices fell more than 2% on Tuesday, extending losses from the previous session on fears that a six-week recovery may have fizzled out
Brent and U.S. crude turned sharply lower after OPEC said that global demand for its crude would be lower than previously thought in 2016
OPEC said supply from rivals is proving more resilient to low prices, increasing the excess supply in the market
Analysts expect a global supply glut to continue to persist with U.S. crude stocks at record highs and hopes for a supply cut fading