Oil prices hold steady for third day; eyes on economic data
Oil prices were little changed for a third session on Tuesday, with investors searching for direction as concern over rising U.S. shale output offsets production cuts by OPEC and non-OPEC members.
Brent crude dipped 7 cents, or 0.1 %, to $55.94 a barrel as of 0229 GMT, with a firmer dollar, which rose slightly against a basket of other currencies, putting some pressure on dollar denominated oil prices.
Oil demand will also rise over the coming five years, crossing the 100 million bpd level in 2019 and hitting 104 million bpd by 2022, driven entirely by emerging economies, the report added. U.S. West Texas Intermediate crude eased 3 cents, or 0.1 percent to $53.17 a barrel.
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