Investing.com - Oil prices swung between gains and losses on Tuesday on hopes the Organization of the Petroleum Exporting Countries will cut output quotas when it meets later this week provided support.
But gains were limited amid uncertainty about how quickly the global glut of crude is set to shrink.
U.S. crude was last up 2 cents at $41.67 a barrel, while Brent rose 3 cents to $44.63.
OPEC will meet in Vienna on Friday to review their output strategy. Most market analysts expect the oil cartel to keep their production quota unchanged despite falling prices.
The oil market has been volatile in recent months amid uncertainty about how quickly the global glut of crude is set to shrink.
Global crude production is outpacing demand following a boom in U.S. shale oil and after a decision by OPEC last year not to cut production in order to defend market share