Oil falls more than 2% due to increased production

LONDON: Oil prices fell more than 2% on Tuesday, diminished by the rise of OPEC and Russia oil outlet as well as the prolonged trade dispute between the United States and China that has dragged the global economy.

US crude fell $ 1.8, or 3.3%, to $ 53.3 a barrel and Brent raw It fell $ 1.3 or 2.2% to $ 57.4.

The gloomy mood has been mainly due to the confrontation between the United States and China in the trade talks, as the two countries continue the measures to implement import tariffs on each other's assets, said Tamas Varga de Petroleum PVM brokerage.