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Oil falls on expectations of an increase in US crude inventories
Oil prices fell on Wednesday on expectations of an increase in US crude
inventories, but comments by the Russian government on prospects for further cooperation with OPEC to coordinate production cuts have limited losses.
By 0626 GMT, the WTI crude futures were $ 63.26 a barrel, down 25 cents, or 0.39 percent from the previous settlement.
Global Brent crude <LCOc1> was down 29 cents, or 0.43 percent, at $ 67.83 a barrel, after rising 0.7 percent on Tuesday.
US crude stocks are likely to rise for the second week in a row, rising to 200,000 barrels in the week ending March 30, according to a Reuters poll of analysts and published on Tuesday.
The US Energy Information Administration is due to publish the official inventory data later on Wednesday.
Russian Energy Minister Alexander Novak said on Tuesday that a joint OPEC and independent producers could be set up after the current cut-off agreement expires at the end of this year.
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